Markets

The Nigerian capital market would soon introduce the electronic initial public offer (e-IPO) system in the country, the Securities and Exchange Commission (SEC) announced on Wednesday.

The Securities and Exchange Commission has extended the forbearance deadline for shareholders with multiple accounts to December 31, 2019 from December 31, 2018 for more investors to embrace the initiative aimed at reducing unclaimed dividends.

Activities on the Nigerian Stock Exchange reversed to the negative territory on Wednesday due to profit taking with the market capitalisation shedding N18 billion.

Tokyo stocks dived more than three percent shortly after the open on Tuesday, with investors discouraged by a plunge in US shares on fears over demand in the tech sector.

Amidst heightened political tension in the Nigerian economy, the total transactions done by foreign investors on the floor of the Nigerian Stock Exchange (NSE) rose by 26.53 per cent or N207.85 billion in the third quarter (Q3) of 2018 to N991.2 billion compared with N783.34 billion recorded in the period of 2017.

The Nigerian Stock Exchange has sanctioned eight banks with fines totalling N102.7m for failing to file their financial statements at the regulatory date.

The Nigerian Stock Exchange (NSE) on Friday moved a total of 121.26 million shares valued at N1.58 billion transacted in 2,678 deals in a bearish trading.

Activities on the Nigerian Stock Exchange closed northward on Thursday with the market indicators appreciating further by 0.37 per cent.

A financial expert, Prof. Uche Uwaleke, on Wednesday expressed optimism that the Nigerian stock market would rebound by the second quarter of 2019.

The Bureau of Public Enterprises (BPE) has facilitated the first Initial Public Offer (IPO) in four years with the public offering of Skyway Aviation Handling Company (SAHCO) Plc for the sale of 406,074,000 ordinary shares. The public offer opens on Monday, November 12, 2018 and closes on Wednesday, December 19, 2018.

Tokyo stocks closed lower as investors took profits at the last minute Wednesday after US midterm election results showed Democrats retaking control of the House of Representatives as projected.

Gains posted by some consumer goods equities on Tuesday lifted trading on the nation’s bourse with the market capitalisation improving by N38 billion.

Asian stocks sank on Monday as fears of faster rate hikes in the United States and uncertainty around the Sino-U.S. trade war deterred investment in riskier assets.

Despite the release of corporate earnings by many companies, the Nigerian equities market closed last week downtick following profit taking in bellwether stocks.

The crucial market indices of the Nigerian Stock Exchange increased by 0.37 per cent on Friday following gains by some highly capitalised equities.

The Nigerian Stock Exchange (NSE) has suspended trading on the shares of Unity Bank Plc and five other publicly quoted companies.

The Nigerian equities market opened the week on a bullish note as investors continued to react positively to nine month corporate earnings being released by companies.

Trading resumed on the Nigerian Stock Exchange (NSE) for the week on Monday on a positive note with the market capitalisation rising by N106 billion.