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Johnson Okafor
Trading activities on the floor of the Nigerian stock market finished the month of January impressive to emerge the best performing exchange in Africa.
Available data revealed that activities on the Nigerian Stock Exchange which opened the trading year at N21.06tn in market capitalisation and 40,270.72 in index at the beginning of trading on January 4, 2021 closed the month at N22.19tn and 42,412 index points, hence earned a year to date gain of about N1.13tn or 5.3 per cent year to date.
According to Bloomberg report, the index kept a clean sheet all week, up +58bps on Friday, and +3.44 per cent w/w.
Punch Newspapers
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Nike Johnson Okafor
Nigerian stocks on Thursday sustained its positive outlook as the overall performance measures, NSE ASI and market capitalisation, rose further by 0.56 per cent each.
Market watchers attributed the development to renewed confidence as bargain hunters continue to leverage on undervalued stocks.
The market breath however closed positive as the number of gainers at the close of trading session was 28 while decliners closed at 22.
Consequently, the All-Share Index gained 238.65 basis points or 0.56 per cent to close at 42,169.41 index points as against 41,930.73 recorded the previous day while the market capitalisation of equities appreciated by N125bn to close at N21.934tn from N21.93tn as market sentiment remained on the green zone.
Punch Newspapers
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Johnson Okafor
Equity trading on the floor of the Nigerian Stock Exchange on Monday closed on the positive note with a gain of N46bn as the bulls regained grip on trading activities.
The market performance indices, NSE ASI, appreciated by 0.21 per cent with market breathe, however, closing negative with 19 gainers against 30 losers.
Consequently, the All-Share Index grew by 86.97 basis points or 0.21 per cent from 41,001.99 index points last Friday to 41,088.96 while the market capitalisation of equities appreciated by N46bn to close at N21.49tn from N21.45tn.
On the activity chart, the banking sub-sector dominated in volume terms with 64.12m shares exchanged in 938 deals. The sub-sector was enhanced by the activities in the shares of Fidelity Bank Plc and Union Bank Plc.
Ecobank obtains N50bn 10-year subordinated loan
Johnson Okafor
Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has announced that one of its significant subsidiaries, Ecobank Nigeria, secured N50bn, 10-Year bilateral subordinated loan.
According to a statement signed by Adenike Laoye, Group Head, Corporate Communications, the bilateral funding provides stable medium-term liquidity to the balance sheet of Ecobank Nigeria and positively improved its balance sheet ratios, especially the capital adequacy ratio by circa 300 basis points.
The transaction proceeds would be deployed to support Micro, Small and Medium Scale Enterprises and small corporates.
Ecobank Group reported N461.2bn revenue during the nine months ended 30th September 2020, representing nine per cent increase against the corresponding period of 2019.