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Published 23 June 2021
The Nigerian Exchange Limited has imposed a total penalty of N719.7m on 14 companies listed on the stock market for late filing of their audited and interim financial statements.
The NGX disclosed this under the ‘2021 default filings’ section of a report obtained by our correspondent on Tuesday.
The companies that filed their financial statements after the regulatory due date include Japaul Gold and Ventures Plc, Conoil Plc, Meyer Plc, Cornerstone Insurance Plc, Afromedia Plc, FTN Cocoa Processors Nigeria Plc and Unity Bank Plc.
Others are NPF Microfinance Bank Plc, C & I Leasing Plc, Notore Chemicals Industries Plc, Vitafoam Nigeria Plc, Juli Plc, Greif Nigeria Plc and Omatek Ventures Plc.
Equities market sustains positive sentiments as investors earn N36.6bn Equities market sustains positive sentiments as investors earn N36.6bn
Share
Trading activities at the domestic equities market extended the previous day’s gain as investors’ demand for Dangote Cement notched the All-Share Index higher by 0.2 per cent to 39,382.96 basis points.
Consequently, investors earned N36.6 billion as the market’s worth closed at N20.527 trillion.
Accordingly, Month-to-Date and Year-to-Date losses moderated to -1.1 per cent and -2.2 per cent, respectively.
The positive performance was spurred by investors’ sustained buy interests in Dangote Cement and 20 others.
As measured by market breadth, market sentiment was positive, as 21 stocks gained relative to 17 losers. Meyer Plc recorded the highest price gain of 9.62 per cent to close at 57 kobo, per share. Presco followed with a gain 9.58 per cent to close at N78.90, while UPDC Real Estate Investment Trust rose by 9.21 per cen
The Streetjournal Magazine is an online investigating media house that specializes on systematic, serious crimes, political corruption or corporate wrongdoing.
Goddy Egene
The nation’s stock market remained bearish last week leading to a decline of 0.15 per cent in the Nigerian Exchange Limited (NGX) All-Share Index to close at 38,808.01, while market capitalisation ended at N20.310 trillion.
The market had similarly dipped the previous week. However, unlike two weeks ago when the volume and value of trading also decline, investors staked more funds last week.
A total of 1.263 billion shares worth N10.759 billion were traded in 19,975 deals last week, up from 887.037 million shares valued at N9.193 billion that exchanged in 17,837 deals the preceding week.
After the earning season and as the second quarter began recently, investors are said to be realigning their portfolio with eyes on yield movements in the fixed income (FI) market. Also, the nation’s subsisting stagflation environment remains a potent threat to investment returns in the financial market.
Market data for the week ended 9th April 2021 revealed that the Nigerian Equity space closed on a negative note, as the All-Share Index and the market capitalization depreciated by -0.66%, to close the week lower at 38,866.39 and N20.335 trillion respectively.
This bearish move has been linked to the conclusion of an impressive annual reporting season, as this leaves few incentives to bet on slightly higher returns from equities, with the rising yields in the fixed-income market.
Some industrial, mining, and consumer goods stocks delivered decent returns during the week
Despite the prevailing bearishness in the market which impacted the performance of some key consumer and industrial good stocks on NSE last week, shares of the following industrial, mining, and consumer goods companies delivered decent returns for their holders during the week.