Bulls return as equity market gains N165bn

February 22, 2024 Amaka Ifeakandu 0

Domestic equity market Wednesday rebounded, gaining N165 billion as gains recorded by BuaCement, FBNHoldings, UBA, Juli Pharmaceutical lifted activities in a positive note. Market capitalisation of listed equities specifically gained  0.30 per cent to N55.463 trillion from N55.298 trillion reported the previous day. The NGX All Share Index also appreciated by 301.71 basis points to101362.38 points from 101060.67 points recorded Read More

Equity market closes lower, sheds N437bn

February 6, 2024 Amaka Ifeakandu 0

The Nigeria stock market Monday closed negative, shedding N437 billion as price depreciation recorded in the shares of MTN Nigeria, GTCO Plc, FBNHoldings, Abbey Building Society, Fidelity Bank offset gain recorded by Geregu Power, Cadbury and others. Specifically Market capitalisation of listed equities declined by  0.76 per cent to N56.721 trillion from N57.158 trillion reported the previous day. The NGX Read More

Positive vibes greet equity market in January

February 6, 2024 Admin II 0

The Nigeria equity market recorded good performance in January 2024 despite sell-offs and profit taking activities witnessed in the market. In this report AMAKA IFEAKANDU looks at the factors that contributed to the growth of market within the period. The Nigerian equity market was bullish and volatile in  the month of January, recording  positive growth at the end of the Read More

Positive vibes greet equity market in January

February 2, 2024 Admin II 0

The Nigeria equity market recorded good performance in January 2024 despite sell-offs and profit taking activities witnessed in the market. In this report AMAKA IFEAKANDU looks at the factors that contributed to the growth of market within the period. The Nigerian equity market was bullish and volatile in  the month of January, recording  positive growth at the end of the Read More

Local equities market sustains growth gains N317bn

January 26, 2024 Admin II 0

The local equities market edged higher on Thursday, gaining N317 billion. Market capitalisation of listed equities increased by 0.57 per cent to N52.900 trillion from N55.583 trillion reported the previous day. The NGX All Share Index also appreciated by 578.82 basis points to 102149.93 points from 101571.11 points recorded on Wednesday. Buying interest in Seplat Energy, Geregu Power, GTCO Plc, Read More

Again, equity market gains N1.616trn

January 25, 2024 Amaka Ifeakandu 0

The local equity market Wednesday maintained a positive position as the benchmark index surged by 2.99 per cent to close in the green region. The market appreciated by 2954.14 basis points to 101,571.11 points from 98616.97 points. Market capitalisation of listed equities also increased by N1.616 trillion or 2.99 per cent to N55.583 trillion from N53.967 trillion reported the previous Read More

Naira falls to N902.45/$ at official window, N1,340/$ at parallel market

January 22, 2024 Blessing Anaro 0

Across the foreign exchange.8forez) market, the naira continued to face increased pressure due to the demand-supply imbalance. In the NAFEM window, the United States Dollar (USD) appreciated by 1.3 per cent week/week (w/w) against the naira to N902.45/$1.00.  Also, activity level fell 33.3 per cent w/w to settle at $505.8 million.  At the parallel market, the dollar gained 7.6 per Read More

Bulls maintain dominance at NGX, as market gains N1.446trn

January 20, 2024 Amaka Ifeakandu 0

The bullish sentiment persisted on the local equity market on Friday as the All Share Index (ASI) appreciated by 2.87 per cent as gain recorded in the shares of Dangote Cement, BuaCement, Seplat Energy, Eterna Plc, Unilever Nigeria Plc and 31 other companies listed market activities. Specifically, the NGX ASI went up by 2641.15 basis points to 94538.12 points from Read More

Gap between official, parallel market exchange rates widens

January 10, 2024 Segun Odunewu 0

The naira’s exchange rate in the black market has been drifting far away from the official market level despite the apex bank’s effort to clear outstanding foreign-currency amounts owed in forward deals. The disparity between the official and black market exchange rates has continued to widen, hitting N388.45 despite substantial clearance of Foreign exchange backlogs by the Central Bank of Read More

Equity market gains N1.566trn

January 10, 2024 Amaka Ifeakandu 0

The positive outing on the Nigerian Exchange was sustained Tuesday as the equity market appreciated by N1.566 trillion. Market capitalisation of listed equities increased by 3.56 per cent to N45.523 trillion from N43.957 trillion reported the previous day. Also, the benchmark NGX All-Share index closed higher on a huge traded volume and positive market breadth, thereby extending the bull rampage Read More

Naira trades low at parallel market, hits N1202/$1 at P2P market

December 27, 2023 Segun Odunewu 0

The naira sold at around N1,202 against the greenback on the P2P (Peer to Peer) market on Tuesday, while the official market remained closed to public holidays. The chronic dollar shortages on the official market have prompted the naira’s official exchange rate to drift towards the parallel market level. The local currency exchanged to the dollar at a lower price Read More

Equity market sustains bullish run, gains N488bn

December 22, 2023 Amaka Ifeakandu 0

Trading activities on the floor of Nigerian Exchange on Thursday sustained bullish trend, appreciating by N488 billion Market capitalisation of listed equities grew by 1.22 per cent to N40.652 trillion from N40.164 trillion reported the previous day. The NGX All Share Index also appreciated by 891.31 basis points to 74289.02 points from 73397.71 points traded on Wednesday. A review of Read More

Equity market gains N86bn

December 15, 2023 Amaka Ifeakandu 0

Trading activity on the floor of Nigerian Exchange remained upbeat as local stock market experienced a bullish session, gaining N86 billion. Market capitalisation of listed equities appreciated by 0.22 per cent to N39.649 trillion from N39.563 trillion reported the previous day. The NGX All Share Index also increased by 156.04 basis points to 72455.83 points from 72299.79 points reported the Read More

Bulls hold sway as equity market gains N130bn

December 12, 2023 Amaka Ifeakandu 0

Domestic equity market on Tuesday sustained a bullish run, appreciating by N130 billion following gains recorded by small and medium stocks which impacted positively on the market activities. Market capitalisation of listed equities appreciated by 0.33 per cent to N39.348 trillion from N39.218 trillion reported on Monday. The NGX All Share Index also increased by 237.35 basis points to 71906.27 Read More

Local equity market gains N70bn

December 12, 2023 Amaka Ifeakandu 0

The local equity market Monday closed in a positive note, appreciating by N70 billion. Market capitalisation of listed appreciated by 0.18 per cent to N39.218 trillion from N39.148 trillion it closed on Friday. The NSE All Share Index also increased by 128.17 basis points to 71669.91 points from 71541.74 points traded on Friday. An analysis of the investment during the Read More

Local equity market remains bullish, gains N46bn

December 8, 2023 Amaka Ifeakandu 0

The local equity market on Friday closed the week in a bullish run, appreciating by N46 billion following gains recorded by Airtel Africa, United Bank for Africa, Ecobank Transnational Incorporated, CWG and other 18 companies which lifted the market activities. Market capitalisation of listed equities specifically increased by 0.12 per cent to N39.148 trillion from N39.102 trillion reported the previous Read More

NNPC Ltd seals LNG deals for domestic, international markets

December 6, 2023 Benjamin Umuteme 0

In its efforts to further boost natural gas utilization in the country and enhance Nigeria’s gas revenue NNPC Ltd has signed two major agreements to deliver LNG to the domestic gas market and the international LNG market. During two separate signing ceremonies held on the sidelines of the on-going United Nations Climate Change Conference (also known as COP28), NNPC Ltd Read More

Equity market opens week negative, sheds N257bn

December 5, 2023 Amaka Ifeakandu 0

Trading activities on the floor of Nigerian Exchange (NGX) on Monday took a negative turn, shedding by N257 billion as decline in the share price of BuaCement weighed down on market index. The NGX All Share Index depreciated by 473.04 basis points to 70946.83 points from 71419.87 points reported the previous day. Market capitalisation of listed equities declined by 0.66 Read More

10 market clusters urge Makinde to ratify Konibaje as Iyaloja

November 27, 2023 Bayo Agboola 0

Ten of the 12 existing market bunches in Oyo state have asked Governor Seyi Makinde to order immediate ratification of the election of Alhaja Saratu Aduke Konibaje as Iyaloja-General of Oyo state. In an open letter to the governor over the raging controversy on the Iyaloja-General of the state, a copy of which was made available to journalists in Ibadan Read More

Senate seeks Nigeria’s inclusion in $147billion global bitumen market

November 24, 2023 Taiye Odewale 0

The Senate Thursday made legislative move of including Nigeria in the $147billion global bitumen market with passage for second reading , a bill seeking for establishment of Bitumen Development Commission. Nigeria as stated in the bill sponsored by Senator Jimoh Ibrahim ( APC Ondo South) , has quantum of 5.9trillion barrels ( 938billion m³) of global in – place Bitumen Read More

Equity market gains N25bn

November 10, 2023 Amaka Ifeakandu 0

Trading activities on the floor of Nigerian Exchange (NGX) on Thursday sustained bullish run, appreciating by N25 billion. Market capitalisation of listed equities appreciated by 0.06 per cent to N38.910 trillion from N38.885 trillion it closed on Wednesday. The NGX All Share Index also increased by 46.18 basis points to 70819.49 points from 70773.31 points reported the previous day. An Read More

Equity market sustains growth, gains N618bn

November 1, 2023 Amaka Ifeakandu 0

The local equity market Tuesday crossed the N38 trillion mark, sustaining a bullish run to gain N618 billion. The trading result showed that gains recorded in the shares of Airtel Africa, Cadbury Nigeria Plc, UBA, FBNHoldings, FTNCocoa and others impacted positively on the market activities. Market capitalisation of listed equities appreciated by 1.65 per cent to N38.038 trillion from N37.420 Read More

WASRA recognises Onyema on capital market impact

October 29, 2023 Amaka Ifeakandu 0

The West African Securities Regulators Association (WASRA) has recognized Oscar N. Onyema for his contribution and support in shaping the integration of capital markets in the region and for being the first Chairman of the West African Capital Markets Integration Council (WACMIC). The association gave the recognition to Onyema at the recently completed West Africa Capital Market Conference held in Read More

Nigeria’s forex market needs clear, enforceable rules – i-invest

October 25, 2023 Benjamin Umuteme 0

Chairman of brokerage firm, Parthian Partners Limited, owners of digital investment platform, i-invest, Dotun Sulaiman, has expressed optimism about the potential impact of the Central Bank of Nigeria (CBN’s) proposed policy documentation on rules of the foreign exchange market operation in Nigeria. Sulaiman, who disclosed this in an interview with journalists on the sidelines of the ongoing National Economic Summit Read More

Equity market gains N158bn

October 17, 2023 Amaka Ifeakandu 0

The nation’s equity market on Tuesday returned to bullish trend, gaining N158 billion, following gains recorded by small and medium stocks. Market capitalisation of listed equities increased by 0.43 per cent to N36.988 trillion from N36.830 trillion it closed Monday. The NGX All Share Index also appreciated by 67326.12 points from 67037.93 points traded the previous day. An analysis of Read More