Economy
UPDC, Zenith Bank, LASACO Shares Witness Heavy Transactions
By Modupe Gbadeyanka
There were heavy transactions around shares of UACN-Property Development Company (UPDC), Zenith Bank and LASACO Assurance on the floor of the Nigerian Stock Exchange (NSE) last week.
Business Post reports that one of the reasons for the activities in UPDC was the transfer of stocks held in the company by UAC Nigeria to Custodian Investment, which is taking control of the real estate company going forward. Also, the interim dividend proposed by the board of Zenith Bank lured investors to trade the lender’s securities.
During the five-day trading week, UPDC, Zenith Bank and LASACO Assurance accounted for 1.2 billion shares worth N3.2 billion in 2,148 deals, contributing 55.61 per cent and 29.60 per cent to the total equity turnover volume and value respectively.
Data from the exchange showed that investors traded a total 2.2 billion shares worth N11.0 billion in 18,013 deals in contrast to a total of 1.1 billion shares valued at N7.4 billion transacted in 16,684 deals the previous week.
It was observed that this time, unlike the previous weeks, the construction/real estate industry led the activity chart with 954.5 million shares valued at N681.4 million traded in 218 deals, contributing 43.21 per cent and 6.22 per cent to the total equity turnover volume and value respectively.
The financial services sector, which used to top the table, was pushed to the second position with 889.9 million shares worth N6.5 billion in 10,107 deals, while the third place was the conglomerates industry, with a turnover of 209.4 million shares worth N580.0 million in 677 deals.
A total of 41 equities appreciated in price during the week, higher than 29 equities in the previous week, while 19 equities depreciated in price, lower than 36 equities in the previous week, with 103 equities remaining unchanged, higher than 98 equities recorded in the previous week.
On the gainers’ chart was led by Royal Exchange, which appreciated by 26.92 per cent to close at 33 kobo per share and was followed by Cornerstone Insurance, which rose by 17.86 per cent to settle at 66 kobo per share.
Union Diagnostic and Clinical Services gained 12.50 per cent to finish at 27 kobo per share, UAC Nigeria appreciated by 10.53 per cent to close at N6.30 per share, while Livestock Feeds gained 10.00 per cent to settle at 66 kobo per share.
On the flip side, The Initiatives was the worst-performing stock, losing 18.57 per cent to settle at 57 kobo per share, while LASACO Assurance trailed with a price depreciation of 16.13 per cent to close at 26 kobo per share.
Tripple Gee and Company declined by 12.00 per cent to settle at 44 kobo per share, C&I Leasing lost 10.00 per cent to end at N3.60 per share, while Academy Press depreciated by 10.00 per cent to finish at 27 kobo per share.
In the week, the All-Share Index (ASI) and market capitalisation appreciated by 1.17 per cent to close at 25,605.64 points and N13.358 trillion respectively. Also, all other indices finished higher with the exception of the ASeM index, which depreciated by 1.63 per cent.
By Aduragbemi Omiyale
Nigeria has been projected to record an economic growth rate of 4.4 per cent in 2026 by the World Bank Group, higher than the 3.7 per cent earlier predicted in June 2025.
In its 2026 Global Economic Prospects report released on Tuesday, the global lender also said the growth for next year for Nigeria is 4.4 per cent rather than the 3.8 per cent earlier projected.
As for the sub-Saharan African region, the economy is forecast to move up to 4.3 per cent this year and 4.5 per cent next year.
It stressed that growth in developing economies should slow to 4 per cent from 4.2 per cent in 2025 before rising to 4.1 per cent in 2027 as trade tensions ease, commodity prices stabilise, financial conditions improve, and investment flows strengthen.
In the report, it also noted that growth is expected to jump in low-income countries by 5.6 per cent due to stronger domestic demand, recovering exports, and moderating inflation.
As for the world economy, the bank said it is now 2.6 per cent and not 2.4 per cent due to growing resilience despite persistent trade tensions and policy uncertainty.
“The resilience reflects better-than-expected growth — especially in the United States, which accounts for about two-thirds of the upward revision to the forecast in 2026,” a part of the report stated.
“But economic dynamism and resilience cannot diverge for long without fracturing public finance and credit markets,” it noted.
World Bank also said, “Over the coming years, the world economy is set to grow slower than it did in the troubled 1990s — while carrying record levels of public and private debt.
“To avert stagnation and joblessness, governments in emerging and advanced economies must aggressively liberalise private investment and trade, rein in public consumption, and invest in new technologies and education.”
By Adedapo Adesanya
Seven price gainers triggered a 0.73 per cent appreciation in the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday, January 13.
The advancers were led by FrieslandCampina Wamco Nigeria Plc, which added N5.06 to its value to close at N75.00 per unit versus the preceding day’s N68.70 per unit, followed by MRS Oil Plc, with a price appreciation of N5.06 to sell at N200.00 per share compared with the previous session’s N194.94 per share, and Air Liquide expanded by N1.00 to settle at N14.00 per unit versus N13.00 per unit.
Further, Food Concepts Plc climbed by 31 Kobo to N3.37 per share from N3.06 per share, IPWA Plc appreciated by 11 Kobo to N1.23 per unit from N1.12 per unit, Geo-Fluids Plc grew by 6 Kobo to N6.90 per share from N6.84 per share, and Acorn Petroleum Plc grew by 1 Kobo to end at N1.29 per unit versus Monday’s closing price of N1.28 per unit.
The gains recorded by these seven securities raised the market capitalisation by N15.95 billion to N2.2 trillion from the preceding session’s N2.184 trillion, and the NASD Unlisted Security Index (NSI) added 26.65 points to close at 3,678.13 points compared to 3,651.48 points.
Business Post reports that three stocks she weight yesterday, with Afriland Properties Plc down by N1.49 to N14.73 per share from N16.22 per share. Central Securities Clearing System (CSCS) Plc went down by 64 Kobo to N40.13 per unit from N40.77 per unit, and UBN Property Plc lost 1 Kobo to close at N2.05 per share versus N2.06 per share.
Yesterday, the number of deals executed soared by 39.6 per cent to 67 deals from 48 deals, the total value of transaction surged by 84.1 per cent to N86.1 million from N46.8 million, while the volume of trades shrank by 59.6 million to 1.6 million units from 4.03 million units.
CSCS Plc was the most active stock by value on a year-to-date basis with 2.0 million units sold for N81.4 million, trailed by MRS Oil Plc with 265,697 units worth N53.1 million, and Geo-Fluids Plc with 6.4 million units traded for N43.4 million.
By volume, Geo-Fluids Plc topped the chart with 6.4 million units valued at N43.4 million, followed by Industrial and General Insurance (IGI) Plc with 3.1 million units transacted for N1.9 million, and CSCS Plc with 2.0 million units valued at N81.4 million.
By Adedapo Adesanya
The value of the Naira further appreciated against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, January 13 by N1.80 or 0.13 per cent to N1,419.66/$1 from Monday’s N1,421.46/$1.
This was boosted by an inject of $50 million into the official forex market by the Central Bank of Nigeria (CBN) in an effort to defend the local currency.
At the same spot market, the Nigerian currency improved its rate against the Pound Sterling during the session by N1.86 to close at N1,913.98/£1 versus the previous day’s N1,915.84/£1 and gained N5.09 on the Euro to settle at N1,656.59/€1, in contrast to the N1,661.68/€1 it was transacted a day earlier.
At the parallel market and the GTBank FX counter, the Naira maintained stability against the DOllar yesterday at N1,490/$1 and N1,431/$1, respectively.
Market analysts have noted that proper CBN support, stronger external inflows from foreign portfolio investors (FPIs), improving current account dynamics, and more disciplined FX management will give the Naira stronger footing in the near term, with threats coming from externalities.
Meanwhile, the cryptocurrency market was elevated on Tuesday as US inflation eased and political uncertainty around the Federal Reserve increased demand for non-sovereign assets.
Ease in US inflation data reinforced expectations that the Federal Reserve will continue cutting rates this year. Lower inflation eased pressure on bond yields and improved liquidity conditions, a setup that has historically favored crypto and other risk assets.
Also, reports that the US Justice Department had served grand jury subpoenas on the Federal Reserve earlier this week unsettled markets and weakened the Dollar, boosting the appeal of assets viewed as insulated from central bank risk.
Cardano (ADA) surged by 7.5 per cent to $0.4206, Ethereum (ETH) appreciated by 6.2 per cent to $3,321.77, Dogecoin (DOGE) grew by 5.8 per cent to $0.1472, Ripple (XRP) rose by 3.9 per cent to $2.14, Binance Coin (BNB) expanded by 3.1 per cent to $936.96, Litecoin (LTC) jumped by 3.1 per cent to $78.58, Bitcoin (BTC) increased by 2.9 per cent to $94,662.42, and Solana (SOL) soared by 1.6 per cent to $144.03, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
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