Rush for Defensive Stocks Keeps NGX in Positive Territory by 0.31%

By Dipo Olowookere Profit-taking persisted at the Nigerian Exchange (NGX) Limited on Thursday, with Customs Street going down by 0.31 per cent on its return from a midweek break. The market closed its doors to traders on Wednesday due to the public holiday declared by the federal government to mark Eid-el Maulud, the birthday of Prophet Mohammed. Business Post reports that market participants did not take their minds off the pressing issues affecting the Nigerian economy, especially rising inflation, energy costs and the foreign exchange (FX) crisis. As a result, they liquidated their shares, leading to a negative market breadth

By Adedapo Adesanya Brent crude futures surged by 2.8 per cent or $2.59 on Wednesday to the highest settlement in 2023 at $96.55 per barrel after a steep drop in crude stocks in the United States compounded worries of tighter global supplies. The price of the US West Texas Intermediate crude futures (WTI) climbed by 3.6 per cent or $3.29 to $93.68 as the Energy Information Administration (EIA) reported a crude oil inventory draw of 2.2 million barrels for the week to September 22 in the country. In the preceding week, the agency posted an inventory draw of 2.1 million

By Dipo Olowookere Profit-taking persisted on the floor of the Nigerian Exchange (NGX) Limited, as investors refused to tone down their profit-taking activities. It was observed that the market is gradually entering panic mode due to macroeconomic instability in the country, especially with the exchange rate of the Naira to the Dollar going above N1,000 in the parallel market. A stockbroker with one of the leading brokerage firms in the country, who asked not to be named, said the local bourse was witnessing panic selling due to investors liquidating their shares for Dollars. “This trend will continue for a while

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Modupe Gbadeyanka The first trading day of this week finished on a positive note today with the major market indicators pointing north as activities resumed on the floor of the Nigerian Stock Exchange (NSE) after the two-day public holiday declared by the Federal Government on Monday and Tuesday to celebrate the end of Ramadan by Muslims. Business Post reports that investors returned to the market on Wednesday in high hopes, though the volume of shares traded finished lower. But at the close of transactions, the stock market reversed the 3-day bearish session to record a 1.67 percent growth. Gains

By Modupe Gbadeyanka Winner of the Unilever Nigeria’s Knorr Taste Quest (KTQ) show has been promised a mouth-watering cash prize of N5 million and a brand-new Chevrolet car. A statement issued in Lagos by the company disclosed that the grand prizes would be given to the winner at the end of the 13-week show. Since its inception in 2013, the show, presently in its fifth season, has four winners. The KTQ cooking contest is a show watched by many, especially those who love to learn new ways of cooking. The reality cooking competition gives contestants an opportunity to display their

By Adedapo Adesanya Guinness World Records (GWR) has now confirmed that Ms Hilda Effiong Bassey, better known as Hilda Baci, has officially broken the record for the longest cooking marathon (individual), with a time of 93 hours 11 minutes. The 26-year-old Nigerian chef began on Thursday, May 11, and continued through to Monday, May 15, cooking over 100 pots of food during her four-day kitchen stint. According to the official message from the body, Ms Hilda Baci attempted to set a record of 100 hours, however, almost seven hours were deducted from her final total because she mistakenly took extra

By Adedapo Adesanya Amid a five-month university strike that has millions of Nigerian students at home, the Joint Admissions and Matriculation Board (JAMB) and heads of tertiary institutions in the country have fixed the cut-off mark for admissions in the 2022/2023 academic session. At the 2022 Policy meeting on admissions presided over by the Minister of Education in Abuja, Mr Adamu Adamu, the minimum cut-off marks for universities was pegged at 140 while polytechnics and colleges of education have 100 as the minimum score. Speaking on this, the Registrar of JAMB, Mr Ishaq Oloyede, who announced the cut-off after votes

By Jerome-Mario Utomi In 1978, the Public Relations professionals across the globe gathered in Mexico to among other aims chart a course and stir the ship of public relations practice. The gathering proposed and adopted a highly influential definition of public relations which it tagged The Mexican statement. It says “public relations practice is the art and social science of analysing trends, predicting their consequences, counselling organisation leaders and implementing planned programmes of action which will serve both the organisation and the public interest. It has since become the most acceptable definition of public relations and assumed a guiding compass

By Modupe Gbadeyanka In order to help impact their operational environment, businesses deploy the Corporate Social Investment (CSI) tool to achieve this. In this interview, the Group Chief Executive of Stanbic IBTC Holdings Plc, Mr Yinka Sanni, examines CSI practice in Nigeria and how Stanbic IBTC deploys its CSI as part of the financial institution’s larger sustainability strategy for socioeconomic integration of the under-served in the society as well as a tool for creating shared values. (Excerpts) How does Stanbic IBTC position corporate social investment (CSI)? Most organisations interpret and implement CSI as best suits their overriding corporate goals. However,

By Adeniyi Ogunfowoke For entrepreneurs, the hardest thing isn’t coming up with innovative ideas, it’s knowing which of your ideas or businesses are worthy of financing. The truth is finding the money to run a startup requires a lot of planning, regardless of whether you’re going to pursue outside funding or choose to bootstrap your first few months. Whatever the case may be, Jumia, Nigeria’s number one shopping destination shares signs to indicate that your startup or business is ready for financing. You’ve tested out your product, and it works The fact is, only a handful of investors will feel

By Timi Olubiyi, PhD Happy New Year, 2023. The yuletide has witnessed a significant consumption rate across the country in the consumer goods sector. On a larger scale, sachet usage has dominated the retail industry in many parts of Africa but more significantly in Nigeria, where the population is high, and there is a huge demand for consumer goods. Sustainable development goal 12 recognises that long-term development and economic growth are contingent upon modifying our production and consumption practices. It necessitates more efficient and eco-friendly management of materials throughout their entire lifecycle, including production, consumption, and disposal. However, the level