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Trading on the Nigerian Exchange Limited (NGX), yesterday, closed the first trading session of the week on a negative note, as NSE-All-Share Index (ASI) declined by N81 billion or 0.40 per cent.
Investors on the Nigerian equities market yesterday lost N118 billion as the market reversed its previous session gains on renewed profit-taking.
The stock market swung back into positive territory yesterday following the retention of the Monetary Policy Rate, MPR, at 11.5 per cent by the Central Bank of Nigeria, CBN, in its second Monetary Policy Committee, MPC, meeting of the year.
Foreign investors’ low patronage of the Nigerian stock market has been attributed to scarcity of foreign exchange (FX) as well as concerns about the coronavirus pandemic.
According to him, the NSE engaged with the federal government to secure an ”essential service status” for the market as part of its Covid-19 response as well as engaged with the Federal Ministry of Finance, Budget and National Planning to achieve specific capital market incentives in the 2019 and 2020 Finance Acts.
An economist, Ms Razia Khan, also Managing Director/Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.
Equities on the Nigerian Stock Exchange generally posted their fifth consecutive daily gains on Thursday as leading stocks including Seplat, Dangote Cement and MTNN propelled the N325 billion upward drift.
The equities market began 2021 on positive note yesterday as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose 2.18 per cent to close at 41,147.39, while market capitalisation added N458.4 billion to be at N21.5 trillion.
The continued flow of funds into the stock market on the back of investors’ continued search for attractive returns pushed the market capitalisation from N17.092 trillion to N19.236 trillion, while the Nigerian Stock Exchange (NSE) All-Share Index (ASI), rose from 34,250.74 to 36,804.75 or 7.46 per cent, which are new highs.
The equities market shed N463.7 billion last week as the bullish streak was halted by persistent profit taking. Following the unprecedented growth recorded in the month of November, many investors have been locking in profits. Despite the pockets of profit taking, the market had maintained a positive weekly performance.
Fidelity Bank Plc has started to raise N75 billion to support small and medium enterprises (SMEs), retail business as well as investments in technology and infrastructure. The financial institution is issuing N75 billion Series 1, 10 year Fixed Unsecured subordinated bonds under its N100 billion bond issuance programme. The offer opened on Monday December 7 and is expected to close on Monday December 14, 2020.
The stock market posted positive performance last week despite profit taking by some investors, as it sustained the growth recorded in the previous week.
The stock market declined by 2.5 per cent last week following profit taking after weeks of sustained growth. The market, which spiked by 12.9 per cent the previous week, closed lower last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) shedding 2.5 per cent to be at 34,136.82. The market capitalisation closed lower at N17.838 trillion.
The Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Oscar Onyema, has harped on the importance of market data as a fundamental tool for making sound financial decisions.
The Nigerian equities market maintain a positive stance, on Tuesday, as the local bourse inched up by 0.70 per cent.
United States Secretary of State Mike Pompeo and Defence secretary Mark Esper are holding a dialogue on Tuesday with their Indian counterparts Subrahmanyam Jaishankar and Rajnath Singh aimed at enhancing defence and strategic ties.
An Iyaganku Chief Magistrates’ Court sitting in Ibadan on Monday ordered that people allegedly involved in the kidnap of two-year-old twins of an Oyo cleric, be remanded in police custody, pending legal advice.
The Oyo State chapter of the African Democratic Congress (ADC) has reaffirmed support and loyalty to its governorship candidate in the 2019 elections, Senator Olufemi Lanlehin, promising to stand by him in “whatever political decisions he makes.”
Chad’s former oil minister was in custody on Thursday following his arrest for allegedly stealing public funds, the police and his lawyer said.
Fifteen people were killed and 70 hurt when an overpass carrying Mexico City metro train cars partially collapsed on to a road on Monday night, authorities said.
Governor Atiku Bagudu of Kebbi State, has urged Nigerians to seek divine intervention in quelling the insecurity challenge confronting the country.
The market capitalisation of the Nigerian Stock (NGX) recorded a growth of N419 billion in April due to impressive first quarter results declared by some companies.
Gov. Darius Ishaku of Taraba has advised the Federal Government to try state police in addressing the security challenges in the country.
Mr Abdulkadir Shehu, a journalist with Progress FM, a private radio station in Gombe, said he returned the $3,000 dollars he found along the road to its owner, because it would be wrong for him to claim it.
Although their intention was to earn a draw in Nigeria, however, Cyril Olisema’s last-gasp effort handed the South Africans a 1-0 defeat in the last Group A Caf Confederation Cup fixture.
Nigerian fintech company Flutterwave has been listed as a pioneer on TIME’s newly released list of 100 Most Influential Companies making an extra ordinary impact around the world.
Akwa Ibom State Governor, Mr Udom Emmanuel has decried the high state of insecurity in the country, saying that the country’s economy cannot achieve growth and development without a safe environment for businesses and investments to thrive.
President Muhammadu Buhari has described the elevation of Mr. Segun Ogunsanya as Managing Director/ Chief Executive Officer of Airtel Africa Plc as another affirmation of Nigeria’s leadership in Africa’s continental matters.
The administration of Governor Ifeanyi Ugwuanyi of Enugu State has raised the alarm over recent efforts by some persons to sabotage the ongoing construction of a Digital Industrial Park (DIP) by the Nigeria Communications Commission (NCC), at the green triangle of the popular Murtala Mohammed Park, beside New Market, in Enugu North Local Government Area of the state.