Price decline in Zenith, Flour Mills and GTBank results in loss of N12.1bn on the NGX, market cap down to N19.92trn
Charles AbuedeMay 26, 2021
Charles Abuede At the close of trade on Wednesday on the NGX, market investors lost N12.1 billion from the bearish sentiment which persisted on the local bourse with the All-Share Index falling by 0.06 per cent to close at 38,233.68 points following price decline in Zenith Bank (-1.1%), Flour Mill of Nigeria (-5.3%), and GTBank […]
The bulls rule over the bears on the NASD OTC from price appreciation in NDEP, Wamco
Charles AbuedeMay 26, 2021
Charles Abuede The bullish momentum resurfaced on the NASD OTC Securities Exchange as price uptick in Niger Delta Exploration Company and Friesland Wamco Plc drove the market capitalisation northward by 0.51 per cent to N546.7 billion while the NASD share index inched to 769.12 basis points to give market investors N2.8 billion in profits. The […]
Total NAFEX turnover tumbles to $131m following CBN FX unification move
Charles AbuedeMay 26, 2021
CBN’s rates adjustment to reflect FMDQ NAFEX rate receive thumbs-up from analysts Charles Abuede Following the recent move by Nigeria’s Central Bank to a more comprehensive, unified and market-driven foreign exchange rates by adjusting its official exchange rate to reflect the FMDQ independently and objectively determined NAFEX rate, the turnover at NAFEX declined from $212 […]
SEC to lay off senior staff members to cut down costs and boost revenue
Charles AbuedeMay 26, 2021
Charles Abuede The Securities and Exchange Commission (SEC) has announced that it is already considering cutting down costs which is resulting in revenue shortfalls by reducing its workforce. SEC stated that the layoff of staff will mostly affect its senior members of staff. Lamido Yuguda, the Director-General, SEC, made this revelation on Tuesday in Abuja […]
NASD market cap down to N543.9bn as investors lose N400m from price decline in large-cap stocks
Charles AbuedeMay 25, 2021
Charles Abuede The NASD Over-the-counter Securities Exchange’s market capitalisation dipped 0.07 per cent to N543.91 billion on Tuesday following price declines in Friesland Wamco and the Nigerian Exchange Group by N1.93 and N0.38 respectively as the NASD Securities Index (NSI) declined 0.07 per cent to 765.20 points. As a result, market investors lost N400 million. […]
CRR: CBN debits banks to the tune of N120.2 billion
Wale AmeenMay 25, 2021
Wale Ameen Online Editor Reports have it that the Central Bank of Nigeria has debited banks a total of N120.2 billion. According to Nairametrics, the sum was deducted from banks’ as a CRR debit. So far, over N10 trillion has been sequestered from banks’ in the last year and half. The Cash Reserve […]
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. […]