The Nigerian equities market suffered its biggest day loss in 2022 as capitalisation fell by N858 billion, following sell offs in Airtel Africa Plc and 22 others.
The All Share Index (ASI) decreased by 1,575.81 absolute points, representing a dip of 3.23 per cent to close at 47,260.89 points. Similarly, the market capitalisation lost N858 billion to close at N25.742 trillion.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Airtel Africa, Okomu Oil, Presco, MTN Nigeria Communications (MTNN) and Nigerian Exchange Group (NGX Group).
As measured by market breadth, market sentiment was negative as 23 stocks lost relative to 14 gainers. Geregu Power recorded the highest price gain of 9.91 per cent to close at N120.90, per share. Livestock Feeds followed with a gain 9.80 per cent to close at N1.12, while Cutix rose 8.00 per cent to close at N2.16, per share.
Cornerstone Insurance went up by 3.92 per cent to close at 53 kobo, while FCMB Group appreciated by 3.83 per cent to close at N3.23, per share. On the other hand, Airtel Africa led the losers’ chart by 10 per cent to close at N1,800.00, per share. Presco followed with a decline of 9.99 per cent to close at N128.35, while Okomu Oil lost 9.98 per cent to close at N169.50, per share.
Honeywell Flour Mills lost 8.66 per cent to close at N2.11, while Red Star Express shed 8.62 per cent to close at N2.12, per share.
Meanwhile, the total volume traded increased by 3.8 per cent to 140.67 million units, valued at N2.52 billion, and exchanged in 4,371 deals.
Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 27.730 million shares valued at N471.485 million. Sterling Bank followed with 25.430 million shares worth N39.043 million, while Zenith Bank traded 14.400 million shares valued at N276.453 million.
Transnational Corporation of Nigeria (Transcorp) traded 13.207 million shares valued at N13.823 million, while Geregu Power transacted 4.964 million shares worth N586.760 million.
Polaris Bank Lauded For Impacting 3,000 Journalists In 4 Years
BY SAMUEL ABULUDE, Lagos
Journalists, who participated in the fourth edition of the media capacity-building session for journalists organised by Polaris Bank have commended the bank for the quality of the workshop.
The annual media workshop, in its fourth edition held over the weekend, had in attendance over 152 participants, including renowned publishers, editors, managing directors of media houses, reporters, and other media-inclined professionals.
Earlier, while welcoming participants and declaring the workshop open, the group head, Strategic Brand management of Polaris Bank, Nduneche Ezurike, said the bank remains committed to its corporate citizenship of contributing to the development of the media in Nigeria.
He explained that, since Polaris Bank took up the responsibility of empowering media practitioners in 2018, the media has been better for it. The highly engaging sessions, anchored by some of the best in the industry, have helped media practitioners to raise the bar of their practice while avoiding landmines that could ruin their blossoming careers.
Polaris Bank, working through respective State Councils of Nigeria Union of Journalists (NUJ), has trained journalists in Lagos, Ogun, Oyo, Ekiti, Ondo, Rivers, and Abuja on contemporary issues, such as: Best Media Practice, Fact Checking, Impact of Fake News, Digital Journalism, Art of Story Telling in a Digital Age, Media Convergence & Transitioning to a Multi-Media Journalist.
He noted that, since the commencement of this initiative, over 3,000 Nigerian journalists have directly participated in the Media Workshop, a key feature of the Banks’ Corporate Social Responsibility (CSR) intervention.
Most participants expressed their appreciation to Polaris Bank for the consistency in hosting the media seminar, despite the challenges of the COVID-19 pandemic.
They promised to put to judicious use the rich nuggets learned from the workshop.
The deputy group Business editor of the Nation newspapers, Taofik Salako noted that, “the workshop was very educative and informative. As a matter of fact, I acquired new knowledge and information as regards Cybercrime Law and You.”
Another joiurnalist, Toyibat Ajose wrote, “Polaris Bank has indeed over the years shown consistency as a media-friendly brand by organising this annual high-impact capacity-building workshop for Nigerian journalists to broaden our horizons and enable us practice more professionally.”
Founder and publisher of TheCable, Simon Kolawole, facilitated the topic: “managing a Virtual Newsroom’, while “The CyberCrime Law & You” was anchored by Eric Orji, a top Legal Practitioner and Principal Partner from E.A Orji & Co Law Firm.
