By Goddy Egene
The bears returned to the local bourse yesterday pulling, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) down by 0.19 per cent to close at 40,494.35. The market had opened for the week on positive note after two weeks of decline, raising hopes that the bargain hunting could be sustained.
However, sell-offs in Stanbic IBTC Holdings Plc, Nigerian Breweries Plc and Zenith Bank Plc, FBN Holdings Plc, Access Bank Plc, among others led to a negative close. A total of 20 stocks depreciated as against 22 stocks that appreciated.
The top of the gainers’ table was dominated by insurance stocks led by Cornerstone Insurance Plc shed 10 per cent. Consolidated Hallmark Insurance Plc trailed with 9.5 per cent, just as Prestige Assurance Plc and Coronation Insurance Plc went down by 8.5 per cent and 8.3 per cent respectively.
Goddy Egene
The Nigerian stock market shed N368 billion last week following profit-taking activities by some investors after the massive gains in January. The market had appreciated by N1.1 trillion in January due to sustained high demand for stocks.
However, the bears set in the first week of February as some investors moved in to lock in part of the gains.
Bearish sentiments dominated the local bourse in all the five trading sessions. Consequently, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 1.66 per cent to close lower at 41.709.09, while market capitalisation shed N368 billion to be at N21.819 trillion.
Lagos, Nigeria; Wednesday, 27 January 2021 – UACN Property Development Company Plc (UPDC) wishes to announce the appointment of Mr. Wole Oshin as the new Chairman of the Board of the Company, following the resignation of the former Chairman, Mr. Babatunde Kasali from the Board.
In accepting the appointment, Mr Oshin thanked the Board members for the confidence reposed in him and solicited their cooperation to achieve the objectives of the Board to lead the Company to greater heights.
UPDC Announces Appointment Of Mr. Wole Oshin As Chairman, Board Of Directors brandspurng
Wole Oshin, Chairman, UPDC Plc. | www.brandspurng.com
Brief profile
Mr. Wole Oshin is an industry leader with over 30 years’ experience and has at various times been a member of the Presidential Committee on Pension Reforms, Chairman of the Nigerian Insurers Association, Council Member of the African Insurance Organization [Cameroun], Companies Association [Ghana] and External Lecturer – West African Insur
Lagos, Jan. 28, 2021 SEPLAT Petroleum Development Company Plc, has announced the appointment of Mr Okechukwu Mba, as the new Managing Director of ANOH Gas Processing Company (AGPC) Limited, effective from Jan. 1, a statement from the company has said.
According to the statement, made available to Naija247news on Thursday, in Lagos, AGPC is the Incorporated Joint Venture (IJV) between SEPLAT and the Nigerian Gas Company (NGC), a wholly-owned Nigerian National Petroleum Corporation (NNPC) subsidiary.
ANOH Gas Processing Company (AGPC) Limited is a midstream gas company, committed to processing Gas from OML 53 for distribution to the local market.
The statement read in part: “Okechukwu has over 20 years of experience, with a diversified background covering Commercial, Planning, Finance and Operations, before his appointment, he held the position of General Manager, Gas business.
SEPLAT appoints Okechukwu Mba as MD ANOH Gas processing coy - National Accord Newspaper nationalaccordnewspaper.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalaccordnewspaper.com Daily Mail and Mail on Sunday newspapers.