The domestic bourse continued its downward trend on Tuesday as investors sold off banking, consumer and industrial stocks. Consequently, Nigeria Exchange Ltd. (NGX) market capitalisation shed N49 billion or 0.09 per cent to close at N56.126 trillion, having opened at N56.175 trillion. The All-Share Index also...
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Losses in Teir-one banking stocks on Friday pushed the market indices into a negative terrain, making investors to lose N56 billion. Specifically, sell-offs in the stocks of Guaranty Trust Holding Company (GTCO), Zenith Bank, FBN Holdings, Fidelity Bank, Wema Bank, as well as Nestle and African Prudential, among...
The stock market, resuming from the Sallah break on Wednesday, closed on a negative note with indices dropping by 0.08 per cent, amid sell pressure. Sell pressure in the stocks of MTN Nigeria, alongside Tier-one banks, namely: FBN Holdings, United Bank For Africa (UBA), as well as Nigerian...
Trading on the Nigerian Exchange Ltd. (NGX) this week closed higher by 1.73 per cent, following investors’ increased demand for banking, insurance, consumer as well as oil and gas stocks. Specifically, the All-Share Index and Market Capitalisation appreciated by 1.73 per cent to close the week at 99,300.38...
The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, on Tuesday, wooed investors from Sweden and Rwanda, to invest in the territory’s tourism sector and environmental management. Wike expressed the FCT Administration’s readiness for the partnership when the Swedish Ambassador and Rwandan High Commissioner visited him in...
The tussle for political supremacy between Gov. Siminalayi Fubar and his predecessor, Chief Nyesom Wike, could affect investors’ confidence, a group has said. The group, ‘Coalition of Rivers Leaders of Thoughts (CORSLOT)’, a non-partisan outfit, told newsmen on Friday in Port Harcourt that the lingering feud could cause...
By DANJUMA JOSEPH, Lafia – President Bola Tinubu, has commended Governor Abdullahi Sule, of Nasarawa State, for his initiative to make the state an industrial hub for the economic benefit of the state and the country at large. Similarly, the United Nations (UN) Deputy Secretary-General, Amina J. Mohammed,...
The stock market recorded an upturn due to increased investor demand for banking stocks and other medium-capitalised entities on Thursday, which led to N17.96 billion profit. Specifically, the market capitalisation, which opened at N54.552 trillion, gained N18 billion or 0.03 per cent to close at N55.570 trillion. The...
The equities market declined on Friday, with profit-taking in stocks such as Zenith Bank, Guaranty Trust Holding Company (GTCO), Wema Bank, Nigerian Breweries, and Nestle Nigeria, among others. Following a flip-flop trading session, the market capitalisation which opened at N55,520 trillion, lost N9 billion or 0.02 per cent,...
Trading activities on the floor of the Nigerian stock market on Tuesday declined, making investors to lose N200 billion. Specifically, the market capitalisation shed N200 billion or 0.35 per cent to close at N56.167 trillion, in contrast to N56.367 trillion recorded on Monday. Also, the All-Share Index also...
Losses in the stocks of Dangote Sugar, Guaranty Trust Holding Company (GTCO), among others have further weakened the performance of the equity market of Nigerian Exchange Ltd. (NGX). Specifically, investors lost N412 billion or 0.71 per cent, as the market capitalisation, which opened at N58.276 trillion, closed at...
Sell-offs in the shares of Tier-one banks on Thursday contributed to a 0.32 per cent decline in the Nigerian Exchange Ltd. (NGX) market indices. Specifically, losses in the share prices of FBN Holdings, Access Corporation, Guaranty Trust Holding Company (GTCO), Zenith Bank and StanbicIBTC Bank, among others, dragged...
Investors in the Nigerian Exchange stock market on Tuesday further lost N104 billion or 0.18 per cent, as the market capitalisation which opened at N58.879 trillion, closed at N58.775 trillion. Similarly, the All-Share Index shed 0.18 per cent to settle at 103,952.47, as against 104,136.35 recorded on Monday. Consequently,...
The Minister of the Federal Capital (FCT), Mr Nyesom Wike, has sought for huge investments from Indian investors, as part of strategies to fast tract the development of the capital territory, Abuja. Wike made the call when the Indian High Commissioner to Nigeria, Mr Shri Balasubramanian, visited him...
The Nigerian Exchange Ltd.(NGX) market capitalisation on Monday closed on a negative note, losing N239 billion. Specifically, the market capitalisation which opened at N59.416 trillion, lost 0.40 per cent or N239 billion to close at N59.177 trillion. Similarly, the All-Share Index also declined by 0.40 per cent...
The Nigerian Exchange Ltd.(NGX) extended gains on Friday, causing investors’ wealth to grow further by N582 billion due to buy interest on the nation’s bourse. Specifically, investors gained N582 billion in value as market capitalisation grew to N59.416 trillion from N58.834 trillion recorded on Thursday. Consequently, the All-Share...
By BARBARA KALU, Port Harcourt – A media group in the Niger Delta has explained that it picked the Mayor of Housing, My-ACE China, as the highest award in business and investment because of the man’s track records in wooing investors to come to the oil region. The group,...
The Central Bank of Nigeria (CBN) has successfully concluded the sale of government securities following the issuance of N1.053 trillion (680 million dollars) in short-term instruments. A statement issued on Sunday night by CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi, stated that the sale is part...
By DAVID IORJA, Abuja – President Bola Tinubu has reiterated his government’s resolve to fight corruption and create a good business environment, urging Qatari investors to report any Nigerian government official who asks for bribe. Tinubu said this at the Nigeria-Qatar Business and Investment Forum in Doha, on...
The financial services industry during the week led activities on the equity market of the Nigerian Exchange Ltd. (NGX) as investors traded a total turnover of 1.6 billion shares worth N36.50 billion in 42,546 deals this week. The NGX weekly market report revealed that this was in contrast...