Domestic equity market on Monday opened week bearish, shedding N242 billion as profit taking activities persisted during the day. Market capitalisation of listed equities declined by 0.66 per cent to N36.605 trillion from N36.847 trillion reported on Friday. The NGX All Share Index also depreciated by 441.95 basis points to 66882.64 points from 67324.59 points recorded the previous day. A Read More
Transactions in the local equity market, on Friday, remained on bearish trend shedding N518 billion as depreciation in the share price of Dangote Cement, Oando Plc and others impacted on the market activities Market capitalisation of listed equities declined by 1.4 per cent to N36.847 trillion from N37.365 billion reported on Thursday The NGX All Share Index also depreciated by Read More
Oil prices continued to climb in early Asian trade on Monday, with WTI breaking above $91.60 and Brent trading at $94.74. Falling crude inventories and the continuation of the Organisation of Petroleum Exporting Countries (OPEC)+ cuts have sparked an oil price rally that is showing no signs of slowing. China’s latest stimulus measures have only added to bullish sentiment, with Read More
In the heart of Katagum local government area of Bauchi state, the Azare New Main Market has long been a hub of commercial activities and a vital source of livelihood for countless businessmen and traders. However, a persistent issue had cast a shadow over the market’s potential – the lack of an access road. For years, this vital artery was Read More
Transactions on the floor of Nigerian Exchange (NGX) on Tuesday sustained an upward trend, appreciating by N31 billion as gain recorded in the shares of BUAfoods, Dangote Sugar, Oando and other boosted market activities. Market capitalisation of listed equities appreciated by 0.08 per cent to N37.400 trillion from N37.369 trillion reported the previous day. The NGX All Share Index also Read More
The local equity market on Friday sustained a growth profile, gaining N536 billion as gain recorded in the share of Dangote Sugar Refinery, Nascon and others lifted the market. Market capitalisation of listed equities increased by 1.47 per cent to N36.958 trillion from N36.422 trillion reported the previous day. The NGX All Share Index also appreciated by 978.20 basis points Read More
Trading activities on the floor of Nigerian Exchange (NGX) on Friday returned to positive note, gaining N86 billion following gain recorded in the shares of Dangote Sugar Refinery, Eterna Plc, FTNCocoa Plc, Nascon and 27 others. Market capitalisation of listed equities appreciated by 0.24 per cent to N35.880 trillion from N35.794 trillion reported the previous day. The NGX All Share Read More
The nation’s domestic equity on Thursday closed negative, shedding N50 billion as the bears dominated in the market activities. Market capitalisation of listed equities decrease by 0.14 per cent to N35.794 trillion from N35.844 trillion reported on Wednesday. The NGX All Share Index also depreciated by 91.10 basis points to 65401.82 points from 65492.92 points reported the previous day. Five Read More
The local stock market on Friday closed on a bullish note, appreciating by N149 billion, following gains recorded by medium and large stocks like Dangote Cement, FBNHoldings, MTN Nigeria, AccessCorp, FCMB among others. Market capitalisation of listed equities increased by 0.42 per cent to N35.422 trillion from N35.273 trillion reported the previous day. The NGX benchmark index, All Share Index, Read More
Transactions on the floor of Nigerian Exchange (NGX) on Monday opened in the negative territory, shedding N157 billion. Market capitalisation of listed equities declined by 0.44 per cent to N35.415 trillion from N35.572 trillion reported the previous day. The NGX All Share Index also depreciated by 289.00 basis points to 65036.37 points from 65325.37 points reported on Friday. An analysis Read More
Trading activities on the floor of Nigerian Exchange on Thursday closed Northward, gaining N565 billion following gains recorded Dangote Cement, Unilever, Cadbury Nigeria Plc, FBNHoldings among others. Market capitalization of equities on Thursday appreciated by 1.62 per cent to close at N35.483 trillion from N34.918 trillion reported the previous day. The NGX All Share Index also appreciated by 1037.43 basis Read More
The Debt Management Office (DMO) of the Presidency has announced the listing of N130 billion sovereign sukuk on the Nigerian Exchange and FMDQ starting on August 8, 2023. This was disclosed in a statement from the debt management office. The listing of this security follows the successful oversubscription of the N100 billion opened in November 2022. This current listing is Read More
Trading activities at the Nigerian Exchange (NGX) closed lower Tuesday, shedding N79 billion. Market capitalisation of listed equities went down by 0.23 per cent to N34.932 trillion from N35.011 trillion reported the previous day. The NGX All Share Index also depreciated by 145.32 basis points to 64192.20 points from 64337.52 traded the previous day. An analysis of the investment showed Read More
Transactions at Nigerian Exchange Limited (NGX) closed the month of July 2023 on a positive note as earnings and dividend declaration from quoted companies helped NGX market cap to gain N1.814 trillion. The gain was also supported by insider dealings among companies as directors and related parties consolidated their positions in a show by such investors of their belief in Read More
As the the gap between the official foreign exchange rate (forex) rate begins to deepen again, the Economic Intelligence Unit (EIU) has expressed fears that the naira may depreciate to N815 per dollar by 2024 and N1,018 to the dollar by 2027. At the foreign exchange (fox) market weekend, brent crude oil price rose 3.9 per cent w/w to $84.00/bbl. Read More
Transactions on the floor of Nigerian Exchange (NGX) on Friday sustained bearish trend shedding N232 billion following profit taking activities persisted in the market. Market capitalisation of listed equities declined by 0.65 per cent to N35.402 trillion from N35.634 trillion reported the previous day. The NGX All Share Index also depreciated by 426.52 basis points to 65056.39 points from 65482.91 Read More
The Divisional Head, Capital Markets at Nigerian Exchange Limited (NGX), Jude Chiemeka, has listed the importance of Environmental, Social, and Governance (ESG) compliance and the democratisation of data in attracting investments and enhancing stock liquidity in the Nigerian capital market. Chiemeka disclosed this in Lagos on Friday during a panel session titled “ESG and Sustainable Finance; The Future of Investments,” Read More
“We want capitalism and market forces to be the slave of democracy rather than the opposite” – Thomas Piketty In today’s Nigeria, a newly ravaging squad is the federal government’s ill-motivated lottery of allowing the market forces invasion to impose the price of fuel even after subsidy withdrawal. If this nasty gambling is sustained, there will be more fatal injuries Read More
By Amaka Ifeakandu, Lagos Transactions on the floor of Nigerian Exchange (NGX) on Thursday close higher, gaining N94 billion following gain recorded by small, medium and large stocks. The sell off in the shares of United Bank for Africa Plc , Sterling Bank, FBNHoldings and others also lifted activities in the market. Specifically, Market capitalisation of listed equities increased by Read More
In its bid to further enhance the effectiveness of regulation and investor protection in the Nigerian capital market, NGX Regulation Limited (NGX RegCo) has signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of Nigeria (ICAN). The signing of the MOU which took place on Monday signifies closer collaboration between NGX RegCo and ICAN and reinforces their Read More
The nation’s equity market on Friday closed on a bullish trend; appreciating by N556 billion as sell off in the shares of FBNHoldings, United Bank for Africa, Wema Bank, FCMB group and others lifted market activities. Market capitalisation of listed equities increased by 1.65 per cent to N34.326 trillion from N33.770 trillion reported the previous day. The NGX All Share Read More
Domestic equity market on Tuesday returned to bearish run, shedding N672 billion following losses recorded by some medium and large stocks. Market capitalisation of listed equities decreased by 1.99 per cent to N33.059 trillion from N33.731 trillion reported the previous day. The NGX All Share Index also depreciated by 1234.20 basis points to 60715.04 points from 61949.24 points traded the Read More
Nigeria has overtaken Angola as the biggest drilling market in 2023 with a total of eight drilling campaigns confirmed offshore in both countries. According to a report released by Pan-African investment research firm, Hawilti and the Caverton Offshore Support Group Plc, Angola was previously the largest oil drilling market in Africa, however, Nigeria equaled the Southern African nation’s total of Read More
The removal of fuel subsidy by President Bola Tinubu has collapsed black market cartels along West Africa routes like Togo, Benin Republic and Cameroon. Transporters say, the product has become very and scarce and expensive when available. Things have been topsy turvy lately on the roadsides of West African nations where cheap contraband petrol from Nigeria has abruptly doubled in Read More
The domestic equity market closed positive Thursday, growing by N20 billion. Market capitalisation of listed equities increased by 0.06 per cent to N32.322 trillion from N32.302 trillion reported the previous day. The NGX All Share Index also appreciated by 37.60 basis points to 59361.55 points from 59323.95 points reported on Wednesday. A review of the market activities showed that NEM Read More
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