Economy
Stock Market Loses 1.60% as Dangote Cement, Honeywell Top Losers’ Chart

By Dipo Olowookere
The gains recorded by the Nigerian Exchange (NGX) Limited in this week’s first three trading sessions were completely wiped off on Friday after the bourse closed lower by 1.60 per cent.
This was caused by the heavy sell-offs in the industrial goods space despite the bargain-hunting in its cousin’s territory, the consumer goods.
According to the stock market data, the industrial goods landscape went down by 4.83 per cent, the insurance counter fell by 0.45 per cent, the banking index declined by 0.22 per cent, while the consumer goods sector grew by 0.40 per cent, with the energy counter closing flat.
Dangote Cement was the worst-performing equity in the last session of the week as its share price weakened by 10.00 per cent to N220.50 due to a sell-down of its shares.
Learn Africa declined by 9.68 per cent to N1.68, Honeywell Flour shrank by 9.36 per cent to N2.13, Academy Press retreated by 7.53 per cent to N1.35, and NEM Insurance dwindled by 6.25 per cent to N3.75.
Conversely, Coronation Insurance ended the day as the best-performing stock after it gained 9.09 per cent to quote at 36 Kobo, Neimeth improved its share price by 8.70 per cent to N1.50, ABC Transport recovered 8.00 per cent to trade at 27 Kobo, Fidelity Bank increased by 7.89 per cent to N4.10, and FBN Holdings rose by 7.69 per cent to N9.80.
At the close of business, the market breadth was negative as there were 18 depreciating equities and 16 appreciating stocks, reflecting a weak investor sentiment.
On the activity chart, a total of 122.8 million shares valued at N4.4 billion exchanged hands in 3,402 deals on Friday compared with the 151.0 million shares worth N1.6 billion transacted in 2,998 deals on Thursday, indicating a decline in the trading volume by 18.67 per cent, a 183.07 per cent rise in the trading value and a 13.48 per cent increase in the number of deals.
Fidelity Bank was the most active stock during the session with 15.0 million units, Ecobank transacted 10.4 million units, Transcorp exchanged 9.1 million units, MTN Nigeria also sold 9.1 million units, and Japaul traded 8.0 million units.
Business Post reports that at the close of transactions, the All-Share Index (ASI) depleted by 712.54 points to 43,912.64 points from 44,625.18 points, and the market capitalisation shortened by N390 billion to N23.916 trillion from N24.306 trillion.
Economy
NASD OTC Bourse Improves by 0.42%

By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed higher on Friday, February 7 by 0.42 per cent, with the market capitalisation increasing by N7.54 billion to close at N1.804 trillion compared with the previous day’s N1.796 trillion.
Equally, the NASD Unlisted Security Index (NSI) went up by 13.30 points during the session to close at 3,184.87 points, in contrast to the preceding day’s 3,171.57 points.
The final trading day of the week had four price gainers and two price losers, according to data obtained from the NASD OTC bourse.
Food Concepts Plc appreciated on Friday by 15 Kobo to settle at N1.65 per share compared with Thursday’s closing price of N1.50 per share, Mixta Real Estate Plc expanded by 31 Kobo to finish at N3.42 per unit versus the preceding session’s N3.11 per unit, FrieslandCampina Wamco Nigeria Plc further grew by 60 Kobo to N40.10 per unit from N39.50 per unit, and Central Securities Clearing System (CSCS) Plc gained 22 Kobo to wrap the day at N24.00 per share compared with N23.78 per share.
On the flip side, Afriland Properties Plc went south by 2.9 per cent to N17 per unit from N17.49 per unit and 11 Plc slid by N3 to close at N253 per share, in contrast to the preceding session’s N256 per share.
During the trading day, the volume of securities bought and sold by investors decreased by 98.1 per cent to 226,384 units from 12.0 million units, the value of securities also slid by 31.4 per cent to N9.7 million from N14.2 million, and the number of deals dropped by 25.6 per cent to 32 deals from 43 deals.
Impresit Bakolori Plc ended the session as the most active stock by value (year-to-date) with 519.5 million units worth N504.3 million, followed by FrieslandCampina Wamco Nigeria Plc with 6.2 million units valued at N245.0 million, and Geo-Fluids Plc with 9.3 million units sold for N44.8 million.
Also, Impresit Bakolori Plc remained the most active stock by volume (year-to-date) with 519.5 million units worth N504.3 million, trailed by Industrial and General Insurance (IGI) Plc with 42.4 million units sold for N12.9 million, and Geo-Fluids Plc with 9.3 million units valued at N44.8 million.
Economy
Naira Remains Stable at N1,500/$1 at Official Market

By Adedapo Adesanya
The Naira closed flat against the United States Dollar at N1,500.65/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, February 7, after recording losses in four straight sessions in the trading week.
The recent pressure on the market across majorly regulated channels came despite recent policy moves by the Central Bank of Nigeria (CBN) creating more trading transparency and ethical practices.
However, the domestic currency depreciated against the Pound Sterling in the official market yesterday by N8.78 to trade at N1,868.76/£1 compared with the previous day’s rate of N1,859.98/£1 and against the Euro, it weakened by N1.95 to settle at N1,557.13/€1, in contrast to Thursday’s closing price of N1,555.18/€1.
At the parallel market, the Nigerian currency improved its value further against the US Dollar on Friday by N5 to sell for N1,565/$1 compared with the preceding session’s N1,570/$1.
As for the cryptocurrency market, it slumped yesterday after the US Bureau of Labor Statistics said the country’s economy added 143,000 jobs in January, below the forecast 170,000 and down from 256,000 in December.
Ethereum (ETH) declined by 4.5 per cent to sell at $2,615.76, Cardano slumped 4.3 per cent to trade at $0.6949, Litecoin (LTC) depreciated by 1.9 per cent to settle at $103.35, Dogecoin (DOGE) fell by 1.7 per cent to $0.2476, Solana (SOL) recorded a 1.4 per cent loss to close at $193.39, Bitcoin (BTC) depleted by 1.2 per cent to $96,138.53, and Binance Coin (BNB) went down by 1.1 per cent to quote at $578.78.
On the flip side, Ripple (XRP) gained 1.8 per cent to trade at $2.36, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat $1.00 each.
Economy
Oil Prices up on Fresh Iran Crude Export Sanctions

By Adedapo Adesanya
Oil prices went up on Friday after new sanctions were imposed on Iran’s crude exports, with Brent crude futures expanding by 37 cents or 0.5 per cent to $74.66 per barrel, and the US West Texas Intermediate (WTI) crude futures growing by 39 cents or 0.55 per cent to $71.00 a barrel.
However, for the week, prices were down by 2 per cent as investors worried about US President Donald Trump’s renewed trade war with China and threats of tariffs on other countries.
Reports of planned tariffs from the Trump administration reined in gains following the sanctions announced on Thursday.
The American president on Friday said he plans to announce reciprocal tariffs on many countries by Monday or Tuesday of next week.
President Trump did not identify which countries would be hit but suggested it would be a broad effort that could also help solve US budget problems.
However, Mr Trump’s Commerce secretary nominee Howard Lutnick voiced concerns about India’s high tariff rates, while US Trade Representative nominee Jamieson Greer discussed US complaints about Vietnam’s and Brazil’s tariffs and trade barriers.
He had earlier announced a 10 per cent tariff on Chinese imports as part of a broad plan to improve the US trade balance, but suspended plans to impose steep tariffs on Mexico and Canada.
But market analysts noted that this could be a major escalation of his offensive to tear up and reshape global trade relationships in the US favour.
On Thursday, it imposed new sanctions on a few individuals and tankers helping to ship millions of barrels of Iranian crude oil per year to China as it intensified war against Iran.
Iran’s President, Mr Masoud Pezeshkian, called on its fellow members in the Organisation of the Petroleum Exporting Countries (OPEC) to stand united against ‘destabilizing’ US sanctions, meeting with OPEC Secretary General Khaitam al-Ghais as the country assumes the rotating presidency of the organisation.
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