UPDATED: Seplat Loses N38.72k as Stock Market Closes Flat

Image

By Modupe Gbadeyanka

Trading of equities on the floor of the Nigerian Stock Exchange (NSE) ended flat on Thursday, March 23, 2017.

At the close of activities on the NSE today, the stock market finished at 0.00 percent.

Business Post correspondent reports that a total of 20 stocks appreciated in price against 14 equities that crashed at the market.

The All-Share Index lost 0.14 points today to close at 25,514.03 points, while the market capitalisation fell by N23.4 million to finish at N8.827 trillion.

On the price movement chart, Nestle emerged the biggest gainer, appreciating by N9 to end at N749 per share.

It was followed by Lafarge, which increased by N3.20k to close at N41 per share and 7up, which improved by N2.29k to finish at N80 per share.

International Breweries advanced by 30k to close at N15.30k per share, while GTBank progressed by 30k also to end at N26.80k per share.

On the flip side, Seplat depreciated by N38.72k to close at N359.28 per share, while Guinness lost N2.64k to end at N60 per share.

Forte Oil crashed by 82k to finish at N45.59k per share, Access Bank dropped 22k to close at N5.93k per share and NASCON slumped by 21k to end at N6.91k per share.

At the end, investors staked N1.4 billion on a total of 115 million shares transacted in 2,861 deals. This was against N2.5 billion spent on 199 million shares traded yesterday in 2,306 deals.

Share
Related Stories
Image
02-March-2024

CSCS, FrieslandCampina Lift NASD OTC Bourse by 0.31%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange returned to the positive territory after it gained 0.31 per cent on Friday, March 1, thanks to the duo of Central Securities Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc. CSCS Plc added 81 Kobo to its value to sell for N19.46 per unit compared with the preceding day’s N18.65 per unit, and FrieslandCampina improved by N1.15 to settle at N71.4o per share, in contrast to Thursday’s closing price of N70.25 per share. However, Aradel Holdings Plc continued its price depreciation yesterday as it shed N6.75 to sell at N2,395.00

Image
03-March-2024

Alake Lures Qatari Investors With Nigeria’s Lithium Reserves

By Adedapo Adesanya Nigeria has called on Qatari investors to tap into the country’s Lithium, with comprehensive data on its reserves, available at the Nigerian Geological Survey Agency, according to the Minister of Solid Minerals Development, Mr Dele Alake. The Minister disclosed this in Doha, Qatar, on Saturday, at a meeting with Qatari businessmen on the sidelines of the visit of President Bola Tinubu to the Arab country. He is part of the delegation that accompanied President Tinubu on the visit to Doha, Qatar to strengthen cooperation between the nations in several sectors, including economic development. In a statement by

Image
05-March-2024

Oil Market Falls Despite OPEC+ Cut Extension

By Adedapo Adesanya  The oil market fell slightly on Monday, as demand headwinds outweighed a widely expected extension of voluntary output cuts through the middle of the year by the Organization of the Petroleum Exporting Countries and its allies (OPEC+). Brent futures dropped 81 cents to quote at $82.74 a barrel while the US West Texas Intermediate (WTI) weakened by $1.22 to trade at $78.75 a barrel. The OPEC+ producers agreed over the weekend to extend their voluntary oil output cuts of 2.2 million barrels per day into the second quarter to cushion the market amid global economic concerns and

More Stories
Image
13-September-2021

Bimbo Oshin’s Husband, Ola Ibironke ‘Dudu Heritage’, Dies

By Aduragbemi Omiyale Mr Ola Ibironke, otherwise known as Dudu Heritage, has died. The socialite, who married a top actress, Bimbo Oshin, was said to have slumped and died on Sunday night in Ibadan, Oyo State. The deceased was the captain of the popular Ibadan Golf Club. He was a music promoter, who was hailed by Fuji maestro, Abass Akande Obesere. Confirming the demise of the socialite, the Ibadan Golf Club, in a statement, expressed shock over the demise of its captain and suspended all club activities to honour the deceased. “We are shocked by the sudden demise of our

Image
04-March-2021

FMDQ Approves Fidson’s N10bn Commercial Paper Programme

By Dipo Olowookere The N10 billion commercial paper programme of Fidson Healthcare Plc has been accepted by the board listings, markets and technology committee of FMDQ Securities Exchange. According to the Chief Financial Officer of Fidson, Mr Imokha Ayebae, the debt instrument would be used to meet the short-term working capital requirements of the organisation. He described the registration of the CP programme of the platform as significant because it coincides with the 26th anniversary of the company. “We are glad about the successful registration of Fidson Healthcare Plc’s N10.00 billion CP programme on the FMDQ platform. “This is particularly

Image
03-November-2021

DMO Considers Fresh N250bn Sukuk Issuance

By Ashemiriogwa Emmanuel The Debt Management Office (DMO) has said that it will issue another sovereign Sukuk this year to be used to finance some critical road projects across the country. According to the agency in a statement issued on Tuesday, November 2, 2021, the bond to be sold to interested investors is between N200 billion and N250 billion. The debt office noted that the proposed sale, which is expected before the end of this year, would be the fourth since the Sukuk issuance debuted in September 2017. Already, the DMO has appointed BURAQ Capital Limited as the financial adviser,

Image
19-April-2021

Twitter African Presence: Nigeria Versus Ghana Rivalry Continues…

By Timi Olubiyi, PhD It is no more news that US-based social media company, Twitter Incorporated, has concluded plans to establish a presence on the African continent in line with its growth strategy. Recall, that Twitter’s founder and CEO, Jack Dorsey, visited Nigeria, Ghana, Ethiopia and South Africa in 2019 in anticipation of this major expansion and growth strategy. Sadly, to Nigeria and Nigerians, Ghana was announced to host Twitter’s first Africa office. This was communicated in a statement Twitter described Ghana “as a champion for democracy, a supporter of free speech, online freedom, and the Open Internet.” The social

Image
16-October-2020

Demand Depresses Crude Prices Despite Inventories Draw

By Adedapo Adesanya The oil market witnessed a drop in the major benchmark prices despite the Energy Information Administration (EIA) reporting an inventory drop of 3.8 million barrels for the week to October 9. The international benchmark futures, Brent crude, fell by 0.65 per cent or 28 cents to trade at $43.04 per barrel while the US benchmark, West Texas Intermediate (WTI) crude futures, dropped 0.19 per cent or 8 cents to trade at $40.96 per barrel. The market had initially jumped over the news that the US crude inventories fell by 3.8 million barrels for the week ended October

Image
20-November-2023

Agropreneurs, Others Get N10m Grant from Unity Bank Corpreneurship Challenge

By Modupe Gbadeyanka A business grant of N10 million has been given to 30 members of the National Youth Service Corps (NYSC), who partook in the entrepreneurship development initiative of Unity Bank Plc known as the Corpreneurship Challenge. The young entrepreneurs received funding support for developing innovative solutions in several business value chains like honey production, rice, and snail farming, among others. The beneficiaries pitched their business ideas to judges selected for the competition across 10 state NYSC Orientation Camps; Katsina, Kano, Kwara, Imo, Rivers, Delta, Sokoto, Edo, Akwa-Ibom, and Osun States. At the NYSC Orientation camp at Ikot Itie

Image
09-August-2022

NDEP Lifts NASD OTC Exchange by 0.38%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange opened the week in the bullish territory on Monday, August 8 coming from the lift in the stock price of Niger Delta Exploration and Production (NDEP) Plc, which advanced the market by 0.38 per cent. This raised the market capitalisation of the NASD OTC Exchange by N3.84 billion during the session to N1.005 billion from the preceding session’s N1.002 trillion as the NASD Unlisted Securities Index (NSI) added 2.91 points to end the day at 764.18 points as against the 761.27 points it recorded in the previous session. NDEP Plc saw its

Image
11-September-2018

Sahara Group Reaffirms Commitment to Literacy, Skills Development

By Modupe Gbadeyanka The ability to read and write is not only a fundamental human right but in the 21st century, it is an essential tool for human survival. Like Darwin propounded in his theory of evolution by Natural Selection, species that fail to acquire the abilities [skills] and features for survival or competitiveness in an ever-evolving world will die – commonly referred to as survival of the fittest. Survival of the fittest refers to the ability of a species to survive and reproduce its kind. Literacy, at the very least, in its most basic form, the ability to read

Ad
Ad
Recent Stories
Image
05-March-2024

Oil Market Falls Despite OPEC+ Cut Extension

By Adedapo Adesanya  The oil market fell slightly on Monday, as demand headwinds outweighed a widely expected extension of voluntary output cuts through the middle of the year by the Organization of the Petroleum Exporting Countries and its allies (OPEC+). Brent futures dropped 81 cents to quote at $82.74 a barrel while the US West Texas Intermediate (WTI) weakened by $1.22 to trade at $78.75 a barrel. The OPEC+ producers agreed over the weekend to extend their voluntary oil output cuts of 2.2 million barrels per day into the second quarter to cushion the market amid global economic concerns and

Image
05-March-2024

Investors Mop up Nigerian Stocks on Economic Optimism

By Dipo Olowookere The Nigerian Exchange (NGX) Limited witnessed a 0.10 per cent growth on Monday amid optimism that the trip of President Bola Tinubu to Qatar over the weekend will yield positive results. At the Nigeria-Qatar Business and Investment Forum in Doha, Mr Tinubu assured Qatari investors that they would not face any bottleneck while attempting to repatriate their funds. This assurance was welcomed by stock investors, who saw light at the end of the tunnel for the nation’s economy, which is currently suffering because of the shortage in the supply of foreign exchange (FX) into the market. Since

Image
04-March-2024

UK Announces £37.3m to Boost Livelihoods in Nigeria, Others

By Adedapo Adesanya The United Kingdom has announced new funding for the Mobile for Development Programme to help more people access mobile and digital technologies to find new opportunities and boost their livelihoods in Nigeria and other developing countries. UK’s Minister for Development and Africa, Mr Andrew Mitchell MP, during a speech at Mobile World Congress last week, announced that the UK is providing £37.3 million of new support for the Mobile for Development Programme. The new UK funding for innovative mobile phone technology will help change lives in developing countries around the world by harnessing AI technology to provide

Image
04-March-2024

Newly-Listed Transcorp Power Targets N500bn Revenue by 2031

By Adedapo Adesanya The latest company to join the Nigerian Exchange (NGX) Limited, Transcorp Power Plc, has announced a revenue target of N500 billion by 2031, tapping opportunities in the capital market and sustainable energy. This was disclosed by the Managing Director of the firm, Mr Peter Ikenga, during the Facts Behind the Listing held at bourse on Monday. The firm, owned by businessman and Chairman of UBA Plc, Mr Tony Elumelu, listed its stocks on the Main Board of the nation’s flagship exchange by introduction. It listed 7,500,000,000 ordinary shares of 50 Kobo each at N240.00 per share. Speaking

Image
04-March-2024

DisCos Must Promptly Respond to Customers’ Complaints—FCCPC

By Aduragbemi Omiyale Electricity distribution companies (DisCos) in the country have been charged to respond to customers’ complaints quickly for better service delivery. This task was given to the energy firms by the Federal Competition and Consumer Protection Commission (FCCPC), which said the companies must design a quick response mechanism to address issues from their customers. Speaking last Saturday at a four-day one-stop-shop for addressing billing, metering, transformer, connection, disconnection, customer service and other electricity consumer issues in Ikeja Electric coverage areas, the acting executive chairman of FCCPC, Mr Adamu Abdullahi, said the highest number of complaints received by the

Image
04-March-2024

Omokungbe Wants Implementation of Initiatives on Women’s Entrepreneurship

By Aduragbemi Omiyale A former Rector of Yaba College of Technology (YabaTech), Lagos, Mr Obafemi Omokungbe, has called for the implementation of programmes and initiatives designed to promote women’s entrepreneurship in Africa. Speaking at the just-concluded 10th anniversary of the African Women Foundation for Nation Building (WINBAFRICA) in Lagos, Mr Omokungbe, a fellow of the Nigerian Society of Engineers (NSE), also appealed to African countries to renew their commitment to women’s empowerment, saying it is a crucial step towards nation-building. According to him, the journey toward women’s empowerment in Africa involves a comprehensive approach that spans various sectors, including education,

Image
04-March-2024

NGX Group Declares 75 Kobo Final Dividend Amid 57.4% Surge in FY’23 Earnings

By Aduragbemi Omiyale A final dividend of N1.5 billion, amounting to 75 Kobo per share has been declared by the board of the Nigerian Exchange (NGX) Group Plc for the 2023 financial year. This brings to N1 the total dividend to be paid by the company after paying 25 Kobo (N495.5 million) as interim dividend at mid-year. In its audited financial statements for the year ended December 31, 2023, the NGX Group said its gross earnings increased by 57.4 per cent to N11.8 billion in FY 2023 from N7.5 billion in FY 2022 because its performances in core revenue and

Image
04-March-2024

Red Line Rail: Labour Party Demands Value for Money

By Aduragbemi Omiyale The Lagos State chapter of the Labour Party has tasked Governor Babajide Sanwo-Olu to ensure the recently commissioned Red Line Rail does not turn out to be another failure due to poor maintenance culture. In a statement by its Publicity Secretary, Mrs Olubunmi Odesanya, the opposition party appealed to the state government to ensure its sustainability. While greeting residents of the metropolis on the project, which was commissioned last Tuesday by President Bola Tinubu, the Labour Party faulted the timing of its completion, saying the ruling All Progressives Congress (APC) ought to have put the initiative in

Image
04-March-2024

Access Bank to Give 700,000 MSMEs Access to N50bn Via YouThrive

By Modupe Gbadeyanka An initiative known as YouThrive designed to give entrepreneurs in the micro, small and medium enterprises (MSMEs) access to a N50 billion credit facility has been introduced by Access Bank Plc. The lender disclosed at a media briefing in Lagos that about 700,000 MSMEs would benefit from this programme, which is open to business owners between the ages of 21 and 40 years. YouThrive is a transformative initiative designed by Access Bank to empower, uplift, and accelerate the next generation of MSMEs. According to the Deputy Managing Director of Access Bank, Mr Victor Etuokwu, who addressed journalists

Image
04-March-2024

Peter Obi Laments Nigeria’s Dependence on War-Torn Ukraine for Food

By Adedapo Adesanya The presidential candidate of the Labour Party in the 2023 polls, Mr Peter Obi, has lamented Nigeria’s dependence on Ukraine, a country ravaged by war, for food aid. Mr Obi, in a statement on Monday, expressed dissatisfaction at the current economic realities and recounted times when the Nigerian economy was faring better than that of Ukraine in 2015. “Ukraine cultivates over 60 per cent of its arable land, whereas Nigeria has over 60 per cent uncultivated arable land. “Despite the conflict, Ukraine feeds itself, and exports agricultural products worth over $25 billion which is about the same