Economy
Sunu Assurances Gains 23.42%, Austin Laz Loses 26.32% in One Week on NGX

By Dipo Olowookere
It was an intense battle between the bulls and the bears on the floor of the Nigerian Exchange (NGX) Limited last, but the latter won after the key performance indicators ended in red.
Business Post reports that the All-Share Index (ASI) and the market capitalisation depreciated in the five-day trading week by 0.33 per cent and 0.31 per cent to 97,506.87 points and N59.107 trillion, respectively.
In the same vein, all other indices finished lower apart from the insurance, AFR Div Yield, Lotus II, industrial goods and the growth indices, which appreciated by 1.23 per cent, 0.84 per cent, 0.99 per cent, 0.62 per cent and 5.59 per cent, respectively, while the ASeM index closed flat.
Data indicated that Customs Street had 32 price gainers in the period under review versus 52 in the previous week, 46 price losers versus 33 a week earlier, and 75 stocks closed flat compared with 68 stocks in the preceding trading week.
Sunu Assurances appreciated by 23.42 per cent to N3.90, Haldane McCall jumped by 21.57 per cent to N6.20, Sovereign Trust Insurance gained 15.87 per cent to sell for 73 Kobo, NASCON increased by 13.09 per cent to N32.40, and Neimeth leapt by 11.22 per cent to N2.18.
Conversely, Austin Laz lost 26.32 per cent to N1.96, John Holt shed 18.91 per cent to trade at N8.92, Lasaco Assurance slipped by 16.47 per cent to N2.13, Eterna tumbled by 16.13 per cent to N20.80, and Deap Capital dwindled by 10.17 per cent to N1.06.
It was observed that the bourse was under selling pressure in the week, with investors transacting 3.194 billion shares worth N54.850 billion in 45,112 deals versus the 1.952 billion shares valued at N35.864 billion exchanged in 48,553 deals in the previous week.
Financial equities led the activity chart with 1.509 billion units sold for N26.904 billion in 20,357 deals, contributing 47.25 per cent and 49.05 per cent to the total trading volume and value, respectively.
Construction/real estate shares followed with 839.945 million units worth N4.806 billion in 1,399 deals, and energy stocks traded 256.445 million units valued at N13.307 billion in 6,313 deals.
Haldane McCall, FBN Holdings and Japaul accounted for 1.587 billion shares worth N19.797 billion in 3,632 deals, contributing 49.69 per cent and 36.09 per cent to the total trading volume and value apiece.
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.
-
Feature/OPED5 years ago
Davos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years ago
Estranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years ago
Sort Codes of GTBank Branches in Nigeria
-
Economy2 years ago
Subsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years ago
First Bank Announces Planned Downtime
-
Sports2 years ago
Highest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN