Investors lose N33bn as bears reclaim NGX floor

Investors lose N33bn as bears reclaim NGX floor

Investors lose N33bn as bears reclaim NGX floor     Negative sentiments resurfaced in the local bourse on Thursday as bears displaced by the bulls the previous session managed to reclaim trading floor of the Nigerian Exchange Group (NGX). The benchmark index that tracks share prices at the bourse shed 64.26 points equivalent to 0.16 % decline to close at 38,571.89 basis points following profit-taking on WAPCO (-3.1%) and UBN (-7.1%) stocks. The aggregate value of stocks in the market followed suit with N33 billion loss to close lower at…

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Nigerian Exchange Group admitted on NASD

Nigerian Exchange Group admitted on NASD

Nigerian Exchange Group admitted on NASD     NASD PLC has announced the admission of the securities of the Nigerian Exchange Group PLC (NGX) for trading on its market. According to information obtained by Business Metrics from the management of the unquoted bourse, the listing came pursuant to the successful demutualization of the Nigerian Stock Exchange (NSE) now known as the Nigerian Exchange Group PLC. “NGX shares will be available to be traded by licensed participating institutions or authorized traders registered on the NASD platform from Tuesday April 13 2021,”…

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Nigerian stock index sheds 0.35%

Nigerian stock index sheds 0.35%

Nigerian stock index sheds 0.35%   Negative sentiments persisted in the local bourse, as profit-taking in GUINNESS (-9.9%) dragged the All-Share Index (ASI) lower by 0.3% to 38,601.83 points. Accordingly, Month-to-Date and Year-to-Date losses increased to -1.1% and -4.1%, respectively. The total volume of trades increased by 7.6% to 208.81 million units, valued at NGN2.91 million, and exchanged in 4,013 deals. FIDELITYBK was the most traded stock by volume at 38.56 million units, while GUARANTY was the most traded stock by value at NGN951.30 million. Analysing by sectors, the Consumer…

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NGX Group unveils new brand identity, website

Nigerian Exchange Group admitted on NASD

NGX Group unveils new brand identity, website   Nigerian Exchange Group (NGX Group) Plc, a leading integrated market infrastructure Group in Africa, has announced the launch of its new corporate brand identity and website. The launch of the new identity on Tuesday followed the demutualisation of The Nigerian Stock Exchange (NSE) and the resulting creation of the non-operating holding company NGX Group Plc and its subsidiaries. The new subsidiaries are Nigerian Exchange (NGX) Limited, the operating exchange; NGX Regulation (NGX RegCo) Limited, the independent regulatory arm of the Exchange; and…

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NGX kicks off with BUA Cement’s N115bn bond listing

NGX kicks off with BUA Cement’s N115bn bond listing

NGX kicks off with BUA Cement’s N115bn bond listing     The Nigerian Exchange Limited (NGX) commenced formal operation under its new identity on Tuesday, April 13, 2021, with the listing of BUA Cement Plc’s ₦115bn 7-Year Series 1 Fixed Rate Senior Unsecured Bond issue. The listing was marked with a digital Closing Gong Ceremony by the Chief Executive Officer of BUA Cement Plc, Engr. Yusuf Haliru Binji. Speaking during the ceremony, the Divisional Head, Listings Business, NGX Limited, Olumide Bolumole said the exchange continues to provide a platform that…

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Investors lose N87bn as NSE resumes from Easter holidays

Investors lose N87bn as NSE resumes from Easter holidays

Investors lose N87bn as NSE resumes from Easter holidays   By Olamide Onabanjo with Agency Report   The Nigerian stock market resumed after the Easter public holidays on Tuesday with a loss of 0.39 per cent due to persistent bearish trend, the News Agency of Nigeria reports. Specifically, the All-Share Index lost 150.13 points or 0.39 per cent to close 38,766.61 compared with 38,916.74 achieved on Thursday. Also, the market capitalisation lost N78bn to close at N20.28tn from N20.361tn achieved before the break on Thursday. The market loss was driven…

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Oscar Onyema completes tenure as CEO of Nigerian Stock Exchange

Oscar Onyema completes tenure as CEO of Nigerian Stock Exchange

Oscar Onyema completes tenure as CEO of Nigerian Stock Exchange     Oscar Onyema has completed his tenure as the chief executive officer (CEO) of the Nigerian Stock Exchange (NSE) following the successful demutualisation of the exchange that transitioned Onyema into the Group Chief Executive Officer (GCEO) of Nigerian Exchange Group (NGX Group) Plc. In commemoration of his exemplary leadership, he was honoured with a digital Closing Gong Ceremony on Thursday, 1 April 2021, a press statement from the exchange said on Tuesday. Speaking at the Closing Gong Ceremony, the…

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Bears stage comeback as stocks shed N157bn in four days

Bears stage comeback as stocks shed N157bn in four days

Bears stage comeback as stocks shed N157bn in four days     The Customs Street remained moody and gloomy for stock investors who staked a sum of N19.039 billion on 1.445 billion shares of quoted companies at the Nigerian Stock Exchange (NSE) last week, during which the market opened for four days. The local bourse could not consolidate the gains recorded in the prior week as profit-taking dominated activities on three of the week’s four trading days ahead of the Easter holidays. Note that the market opened for four trading…

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Mixed trend, portfolio reshuffling ahead on Q1 numbers, economic data

Investors lose N87bn as NSE resumes from Easter holidays

By Investdata Analysts   The mixed trend continued on the Nigerian Stock Exchange on the last trading session of the month and quarter as the benchmark index closed on a negative note, and thereby extending the bear transition for the second successive day, in the midst of corporate earnings and dividend news rains. We see that the influx of 2020 full-year numbers were not enough to impact the market positively as MTNN price depreciation and profit booking in banking stocks dragged the All Share index down, as many companies moved…

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NSE key indices drop further 0.57% as investors lose N166bn

Bears stage comeback as stocks shed N157bn in four days

NSE key indices drop further 0.57% as investors lose N166bn     Key market indicators dropped further by 0.57 per cent at the nation’s bourse on Wednesday, on increased profit taking in banking and industrial sectors. The downturn was supported by investors’ portfolio readjustment ahead of first quarter earnings results. Specifically, the All-Share Index declined by 221.98 points or 0.57 per cent to close at 39,045.13, compared with 39,267.11 posted on Tuesday. Also, the market capitalisation dropped by N116 billion, closing at N20.428 trillion, from N20.544 trillion. The market loss…

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