The NGX lost N61bn Thursday as market capitalisation dips below N20trn from sell-pressures
Charles AbuedeMay 20, 2021
Charles Abuede The NGX market capitalisation shed further below N20 trillion due to selling pressures in the local bourse and was seen Dangote Cement (-1.9%), Sterling Bank (-7.7%), and Access Bank (-1.2%), leading to a 0.3 per cent decline in the All-Share Index which closed at 38,328.13 points on Thursday while market investors lost N61 […]
Investors maintain calm on local equities as the NASD closed flat on Thursday
Charles AbuedeMay 20, 2021
Charles Abuede On Thursday at the NASD Over-The-Counter (OTC) Securities Exchange, the equities market traded flat as the NASD benchmark index and market capitalisation stayed flat at 763.84 points and N542.95 billion respectively as investors remained calm on the Nigerian equities resulting from the market expectations from the forthcoming MPC assembly. However, strong buying interests […]
Sell-offs in Airtel, DangCem and Zenith Bank results in N301bn loss for investors
Charles AbuedeMay 19, 2021
Charles Abuede The resurfacing of the bears on Wednesday brought about a N301 billion loss to market investors. The local bourse extended the previous sessions’ negative performance as the All-Share Index fell by 1.48 per cent to close at 38,446.09 points due to sell-offs in Airtel Africa (-10.0%), Dangote Cement (-0.5%), and Zenith Bank (-2.1%). […]
The bulls surface on the NASD OTC Exchange as investors scoop N5.6bn profit
Charles AbuedeMay 19, 2021
Charles Abuede The NASD Securities Exchange equities market rebound into bullishness on Wednesday from Tuesday’s bearish performance as price appreciations in the Nigerian Exchange Group (NGX) and the Central Securities Clearing System (CSCS) spurred a 1.03 per cent advancement in the market capitalization to N542.95 billion and the NASD all-share index improved to 763.84 points. […]
NGX down by N148bn from sell-offs in BUACem, FBN, Zenith Bank on Tuesday
Charles AbuedeMay 18, 2021
Charles Abuede Market investors lost N148 billion due to the absence of a positive catalyst to stir bullish trade performance in the equities market. Thus, the market on Tuesday extended Monday’s negative sentiment as the benchmark index fell by 0.72 per cent to close at 39,022.52 points due to sell-offs in BUA Cement (-5.7%), First […]
President Buhari, industry veterans headline NGX’s ‘Stock Africa is made of’ campaign launch
Charles AbuedeMay 18, 2021
Event held to amplify NGX’s positioning as leading capital market infrastructure provider Charles Abuede At the epochal event that seeks to re-energise Africans and validate the success stories with the theme, ‘The Stock Africa Is Made Of’, the Nigerian Exchange Group (NGX) at the campaign launch, amplified its positioning and commitment to the continent’s financial […]
CBN initiates steps to harmonise exchange rates
Wale AmeenMay 15, 2021
Wale Ameen Online Editor There are indications that the Central Bank of Nigeria as at Friday has began gradual harmonisation of the exchange rates. This follows the removal of the N379/$1 official exchange rate from it’s website. The move is seen as an indication of effort by the bank to harmonisation of the harmonisation […]
Nigeria Exchange Group to launch campaign ‘The Stock Africa Is Made Of’
Wale AmeenMay 14, 2021
Wale Ameen Online Editor The Nigerian Exchange Group (Plc) formerly Nigerian Stock Exchange is will be launching a campaign that seeks to re-energise Africans and validate our success stories with the theme, ‘The Stock Africa Is Made Of’. According to the Group, the campaign will showcase the resilience, ambition, result-oriented spirit that makes Africans different. […]
Cryptocurrency market left awash after Elon Musk tweets Tesla’s decision on Bitcoin purchases
Charles AbuedeMay 13, 2021
Charles Abuede Elon Musk on Wednesday sent the cryptocurrency market into the red zone and triggering a slide in Bitcoin and other digital currencies after he disclosed Tesla, the electric vehicle maker, has taken a decision to suspend purchases using Bitcoin. Consequently, the largest traded cryptocurrency crashed by as much as 15 per cent to […]
Nigeria’s FG generated N392.8bn as taxes from companies in 3 months; signifying 86% of projected tax revenue
Charles AbuedeMay 12, 2021
Charles Abuede With a significant recovery recorded revenue from taxes as the economy shifts away from the claws of the coronavirus pandemic which has hampered the revenue generation ability of various sectors of the Nigerian economy. Consequently, revenue generated from Nigeria’s company income tax (CIT) increased by 32.84 per cent year on year to N392.77 […]