By Chinyere Joel-Nwokeoma Lagos, May 26, 2021 The bearish run continued on the Nigerian Exchange (NGX) on Wednesday with capitalisation dropping further by N12 billion due to profit taking on banking stocks. Specifically, the market which opened at N19.940 trillion shed N12 billion or 0.06 per cent to close at N19.928
By Chinyere Joel-Nwokeoma
Lagos, May 27, 2021 Transactions on the Nigerian Exchange (NGX) closed in red on Thursday, losing N99 billion on losses posted by Dangote Cement and 20 other stocks.
Consequently, the market capitalisation which opened at N19.928 trillion dipped N99 billion or 0.99 per cent to close at N19.829 trillion.
Also, the All-Share Index inched lower by 189.10 points or 0.49 per cent to close at 38,044.58 compared with 38,233.68 posted on Wednesday.
Accordingly, the month-to-date and year-to-date losses increased to 4.5 per cent and 5.5 per cent, respectively.
The market downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Dangote Cement, Guaranty Trust Bank, MRS Oil, Eterna and UACN.
By Chinyere Joel-Nwokeoma
Lagos, May 24, 2021 FMDQ Securities Exchange Ltd has announced the admission for listing the BUA Cement Plc N115 billion series 1 fixed rate senior unsecured bond under its N200 billion bond issuance programme.
The issuance, the first by BUA Cement, becomes the largest corporate bond issued in the Nigerian Debt Capital Market (DCM).
The FMDQ said in a statement on Sunday in Lagos that the bond was approved by the board Listings and Markets Committee of the Exchange.
It said the proceeds from the issuance would be used to refinance existing debt obligations of the issuer, finance the issuer’s working capital as well as fund its debt service reserve account.
Bears dominate trading on NGX, capitalisation down by N193bn
By Chinyere Joel-Nwokeoma
Lagos, May 5, 2021 The bears were dominant on the Nigerian Exchange (NGX) Ltd., on Wednesday with market capitalisation declining further by N193 billion.
Specifically, the capitalisation which opened at N20.830 trillion dipped N193 billion to close at N20. 637 trillion.
Similarly, the All-Share Index lost 367.97 points or 0.92 per cent to close at 39,433.81 from 39,801.78 on Tuesday.
Consequently, month-to-date and year-to-date losses increased to 0.9 per cent and 2.0 per cent, respectively.
The price depreciation was sustained by sell-off in Stanbic IBTC Holdings and 21 other stocks.
The loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Stanbic IBTC Holdings, Unilever Nigeria, Guaranty Trust Bank, Zenith Bank and Julius Berger.
NGX records N419bn growth in April
By Chinyere Joel-Nwokeoma
Lagos, May 3, 2021 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.
Specifically, the market capitalisation which closed trading in March at N20.428 trillion rose by N419 billion to close at N20.847 trillion in April.
Similarly, the All-Share Index inched higher by 789.29 points to close at 39,834.42 in contrast with 39,045.13 recorded in March.
Royal Exchange Assurance emerged the best performing stock for April in percentage terms, growing by 89.29 per cent to close at 58k per share against 28k recorded in March.