Category: Stock news
Sell pressure pushes stock market down by 0.05%
Stocks The stock market on Thurday continued on a downturn trend as performance indices declined by 0.05 per cent due to persistent sell pressure. ...
Sterling HoldCo gets additional N75bn capital base..
…cements capital raise with full regulatory approval Sterling Financial Holdings Company PLC has achieved another milestone with the approval of the Central Bank...
FG issues N1.1trn Sukkuk bonds for road projects-SEC
Sukuk The Securities and Exchange Commission (SEC) has said the Federal Government issued six Sovereign Sukuk worth N1.1 trillion ($657.6m) to finance 124 federal...
Stock market opens bullish,gains N84bn
Stock The Nigerian Exchange Ltd. (NGX) on Monday opened the week positive with N84 billion profit added to the portfolios of investors. Specifically, the market...
Nigerian stock market rebounds with N131 bln gain
..experts cite renewed investor interest Caption:Nigeria stock market Nigeria’s stock market staged a recovery on Tuesday, climbing 0.22% after a six-day losing streak...
Nigerian stock market rebounds with N131 bln gain ..experts cute renewed investor interest Caption:Nigeria stock market Nigeria’s stock market staged a recovery on Tuesday, climbing 0.22% after a six-day losing streak as renewed investor interest in top-tier banking stocks fueled a N131 billion boost to the market capitalization. The market cap rose from N58.721 trillion to N58.852 trillion, while the All-Share Index (ASI) gained 216 points to close at 97,123.61, up from Monday’s 96,907.73. The Year-To-Date (YTD) return also advanced, hitting 29.89%. Leading the uptick were major banks including Zenith Bank, FBN Holdings, United Bank for Africa (UBA), Access Corporation, and Fidelity Bank, which spurred the gains across the sector. The market breadth was positive, with 26 gainers against 21 laggards. Top gainers included Conoil, rising by N18.80 to close at N208.10, followed by John Holt and Eunisell Ltd., which climbed 36k and 61k, respectively. UBA advanced by N3.15, closing at N35.05, while PZ Cussons surged N1.95 to end at N24.95. On the downside, Oando led losses, shedding N8.05 to close at N72.65. Daar Communications followed, down by 6k to close at 56k per share, with Regency Alliance Insurance, Veritas Kapital, and Guinea Insurance also in the red. Trading activity surged, with turnover volume rising sharply by 79.64% compared to the previous session. Total transactions reached 3.60 billion shares valued at N25.57 billion, up from 1.22 billion shares worth N14.23 billion in Monday’s session. Sovereign Trust Insurance led in volume with 2.50 billion shares traded, while UBA topped in value, recording N6.74 billion in transactions. Market Outlook The short-term outlook appears cautiously optimistic as investor confidence is bolstered by renewed interest in the banking sector and an increase in trading volume. Market sentiment may remain buoyed by expectations of favourable corporate earnings, especially within banking and consumer goods. However, global economic pressures and policy decisions from the Central Bank of Nigeria could influence market trajectory, suggesting a potential for volatility.
..experts cite renewed investor interest Caption:Nigeria stock market Nigeria’s stock market staged a recovery on Tuesday, climbing 0.22% after a six-day losing streak...
Nigerian stock market rebounds with N131 bln gain ..experts cute renewed investor interest Caption:Nigeria stock market Nigeria’s stock market staged a recovery on Tuesday, climbing 0.22% after a six-day losing streak as renewed investor interest in top-tier banking stocks fueled a N131 billion boost to the market capitalization. The market cap rose from N58.721 trillion to N58.852 trillion, while the All-Share Index (ASI) gained 216 points to close at 97,123.61, up from Monday’s 96,907.73. The Year-To-Date (YTD) return also advanced, hitting 29.89%. Leading the uptick were major banks including Zenith Bank, FBN Holdings, United Bank for Africa (UBA), Access Corporation, and Fidelity Bank, which spurred the gains across the sector. The market breadth was positive, with 26 gainers against 21 laggards. Top gainers included Conoil, rising by N18.80 to close at N208.10, followed by John Holt and Eunisell Ltd., which climbed 36k and 61k, respectively. UBA advanced by N3.15, closing at N35.05, while PZ Cussons surged N1.95 to end at N24.95. On the downside, Oando led losses, shedding N8.05 to close at N72.65. Daar Communications followed, down by 6k to close at 56k per share, with Regency Alliance Insurance, Veritas Kapital, and Guinea Insurance also in the red. Trading activity surged, with turnover volume rising sharply by 79.64% compared to the previous session. Total transactions reached 3.60 billion shares valued at N25.57 billion, up from 1.22 billion shares worth N14.23 billion in Monday’s session. Sovereign Trust Insurance led in volume with 2.50 billion shares traded, while UBA topped in value, recording N6.74 billion in transactions. Market Outlook The short-term outlook appears cautiously optimistic as investor confidence is bolstered by renewed interest in the banking sector and an increase in trading volume. Market sentiment may remain buoyed by expectations of favourable corporate earnings, especially within banking and consumer goods. However, global economic pressures and policy decisions from the Central Bank of Nigeria could influence market trajectory, suggesting a potential for volatility.
..experts cite renewed investor interest Caption:Nigeria stock market Nigeria’s stock market staged a recovery on Tuesday, climbing 0.22% after a six-day losing streak...
Recapitalisation: FBNHoldings opens N150bn rights issue
FBNHoldings Plc has opened its Rights Issue, offering 5.983 billion ordinary shares at 50k each, priced at N25 per share, totaling N150 billion, to existing...
NGX suspends trading of Transcorp shares, investors gain N46bn
The Nigerian Exchange Ltd. (NGX) has suspended trading in the shares of Transnational Corporation Plc (Transcorp), effective Thursday. The NGX, in its weekly...
Oando acquires NAOC from Italian company at $783m
L-R: Wale Tinubu, CON, Group Chief Executive, Oando PLC and Guido Brusco, Chief Operating Officer, General Director of Natural Resources, ENI; at the signing for...
