By OLUSHOLA BELLO, Lagos - The Nigerian equities market rebounded despite continued strong volatility, as the ASI closed higher to reverse previous week’s loss. Overall, the NSE All Share Index improved by 483.24 points or 1.38 per cent week-on-week to 35,488.81 points and the year-to-date return closed higher to 32.05 per cent. Likewise, market capitalisation gained N166 billion to close at N12.234 trillion. During the week, 128.5 million units of Guaranty Trust Bank were crossed between some offshore funds and local investors 107.5 million units were crossed at N39 and 21 million units were crossed at N38. Also, 57.2 million units of Access Bank were crossed at varying prices averaged at N9.78. Another notable development during the week was the opening for subscription of Union Bank of Nigeria Plc rights issue, wherein the bank intends to raise N49.7 billion with the issuance of 12.1 billion ordinary shares. Investors who had shares in...
The Nigerian Stock Exchange (NSE) on Friday moved 362.05 million shares valued at N3.68 billion in 4,396 deals. The News Agency of Nigeria (NAN) reports that the turnover rose by 13.48 per cent from the 318.15 million shares worth N3.95 billion exchanged in 5,472 deals on Thursday. FBN Holdings maintained its position as the most traded stock, accounting for 88.68 million shares valued at N628.80 million. It was trailed by UBA with 50.71 million shares worth N500.42 million, while Diamond Bank sold 29.46 million shares valued at N30.52 million. FCMB Group traded 27.35 million shares worth N29.23 million, while AIICO Insurance exchanged 20.98 million shares valued at N11.43 million. . NAN reports that the market indices grew by 0.16 per cent on gains posted by some highly capitalised equities. Nestle recorded the highest price gain of N40 to close at N1,290 per share. Flour Mills rose by N1.78 to close at N35.47, while Lafarge Africa garnered N1.45...
Market indicators of Nigeria Stock Exchange (NSE) dropped marginally on Thursday to break the three consecutive days upward trend. The News Agency of Nigeria (NAN) reports that that the All-Share Index lost 10.05 points or 0.03 per cent to close at 36,877.15 from the 36,877.20 posted on Wednesday due to profit taking. Also, the market capitalisation which opened at N12.766 trillion, shed three billion or 0.02 per cent to close at N12.763 trillion. NAN reports that Nigerian Breweries topped the price losers’ table with a loss of
N4.77 to close at N145.23 per share. International Breweries trailed with a loss of N1.01 to close at N48.99, while Unilever dropped N1 to close at N40 per share. PZ industries shed 91k to close at N22.70, while Dangote Cement went down by 50k to close at N227 per share. On the other hand, Flour Mills led the price gainers’ table by N1.58 to close at N33.69 per share. FBN...
The Naira on Monday traded at N360.16 to the dollar at the investor’s window, the News Agency of Nigeria (NAN) reports. The Nigerian currency exchanged at N362 to the dollar at the parallel market, while the Pound Sterling and the Euro closed at N475 and N425. The Naira also traded at N362 to the dollar at the Bureau De Change (BDC) window, while the Pound Sterling and the Euro closed at N475 and N425. Traders said the Nigerian currency had remained stable at the Foreign Exchange (FOREX) market and commended the Central Bank of Nigeria (CBN) for boosting liquidity at the various segments of the market. The CBN had injected over 3.6 billion dollars in series of interventions to the FOREX market. (NAN)
Activities on the Nigerian Stock Exchange (NSE) on Tuesday sustained bullish trend for the second consecutive day, with major equities recording price growth led by Nestle. Nestle recorded the highest price growth with a gain of N22 to close at N1,252 per share just as predicted by market watchers. It was followed by Seplat with N15 to close at N492 and Dangote Cement rose by N5 to close by N224 per share. Flour Mills rose by N1.50 to close at N31.50 per share. Some financial experts on Oct. 30 predicted that the 2018 budget proposal presentation and improved third quarter earnings would impact positively on the market this week. Consequently, the All-Share Index appreciated further by 195.99 points or 0.54 per cent to close at 36,680.29 against 36,484.30 on Monday. In the same vein, market capitalisation inched N67 billion or 0.53 per cent to close at N12.694 trillion compared with N12.627 trillion on Monday. Total posted...
Transactions on the Nigerian Stock Exchange (NSE) for the third consecutive day on Wednesday closed upbeat, as the market capitalisation rose by N72 billion on gains by major blue chips. The News Agency of Nigeria (NAN) reports that the market capitalisation which opened at N12.694 trillion, inched N72 billion or 0.57 per cent to close at N12.766 trillion. Also, the All-Share Index rose by 206.91 points or 0.56 per cent to close at 36,887.20 in contrast with 36,680.29 posted on Tuesday. Mobil Oil recorded the highest price gain to lead the gainers’ table with N6 to close at N161 per share. Dangote Cement followed with a gain of N3.50 to close at N227.50 and Presco appreciated by N3.32 to close at N69.82 per share. International Breweries increased by N1.01 to close at N50 and Flour Mills improved by 61k to close at N32.11 per share. On the other hand, Nestle recorded the highest price loss...

NSE Indices Open With 0.24% Growth

The Nigerian Stock Exchange (NSE) market indices resumed for the week on Monday with a growth of 0.24 per cent due to Nestle price appreciation. The News Agency of Nigeria (NAN) reports that the market capitalisation improved by 0.24 per cent or N31 billion to close at N12.805 trillion compared to N12.774 trillion achieved on Friday. Similarly, the All-Share Index which opened at 36,703.58 rose by 89.02 points or 0.24 per cent to close at 36,792.60 posted on Friday. NAN reports that Nestle recorded the highest price gain to lead the gainers’ table, growing by N4.87 to close at N1, 255.90 per share. PZ rose by N2.30 to close at N24.79 kobo, while National Salt grew by N1.39 to close at N15.89 per share. Zenith International Bank inched 86k to close at N24.98 kobo, Dangote sugar increased by 62k to close at N14.95 per share. Conversely, Forte Oil led the laggards’ chart with a loss...

NSE All-Share Index Loses 0.24%

Activities on the Nigerian Stock Exchange (NSE) nosedived on Thursday with the All-Share Index dropping by 0.24 per cent amid profit taking. The News Agency of Nigeria (NAN) reports that the index shed 87.43 points or 0.24 per cent to close at 37,051.54 compared to 37,138.97 achieved on Wednesday. Also, the market capitalisation which opened at N12.853 trillion lost N30 billion to close at N12.823 trillion due to price loss by some blue chips. NAN reports that Dangote Cement topped the losers’ table, dropping by N1.99 to close at N229.01 per share. Nigerian Breweries trailed with a loss of 89k to close at N143 and NASCON dipped 63k to close at N15.35 per share. Zenith International Bank was down by 48k to close at N25.10, while Dangote Sugar depreciated by 21k to close at N15.25 per share. On the other, Mobil Oil led the gainers’ table with a gain of N11.99 to close at N165...
Nestle Nigeria continued its upward trend on the Nigerian Stock Exchange (NSE) on Wednesday, hitting N1,315 to lift the All-Share Index by 0.55 per cent. The News Agency of Nigeria (NAN) reports that Nestle improved by N25 to close at N1,315 per share. Mallam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., attributed the growth being experienced by Nestle to adherence to corporate governance issues in its operational dealings. Kurfi said that the share holding structure of the company contributed to the price rally. He stated that bulk of the companies shares were in the hands of majority shareholders who were not in a haste to dispose their holdings. NAN reports that Forte Oil followed on the gainers’ table with a gain of N2.05 to close at N43.20, while Unilever chalked up N1.79 to close at N41.89 per share. UACN increased 60k to close at N17.50, while Cadbury rose by 58k to close...
The naira has appreciated by 30.3 per cent since February when the Central Bank of Nigeria (CBN) began its aggressive interventions at the foreign exchange market, the News Agency of Nigeria (NAN) reports. The Nigerian currency had exchanged at N520 to the dollar at the peak of onslaughts by currency speculators before the CBN stated intervening by injecting foreign exchange in the market. The CBN injection of over 3.6 billion dollars to meet the demand for foreign exchange resulted in the convergence of rates at the parallel market and the Bureau De Change segments. The apex bank’s intervention led to the current flattening of the rate at 362.5 to the dollar at the parallel market. Prof Sheriffdeen Tella, a Senior Economist at the Olabisi Onabanjo University, Ago-Iwoye, Ogun, said that the CBN interventions were made possible by the increase in the price of oil at the international market. Tella said that the crude oil...