Stock market decreases further to lose N35 billion
The Nigerian Exchange Ltd. (NGX) declined further on Friday as market capitalisation depreciated by N35 billion or 0.13 per cent, to close at N26.686 trillion from N26.721 trillion on Thursday.
Also, the All-Share Index (ASI) fell by 65.06 points or 0.13 per cent to 49,475.42 from 49,540.48 recorded at the previous trading.
The major drivers of the weak performance were Zenith Bank, First Bank of Nigeria Holding, Access Bank Holding and Stanbic Bank.
The market breadth ended with nine stocks gaining, while 13 were on the losers’ charts.
NEM Insurance led the gainers with 8.97 per cent to close at N5.59 per share.
Academy Press followed with an appreciation of 6.80 per cent to close N2.20 per share.
Japaul Gold and Ventures rose by 3.79 per cent to close at 28k, while Cadbury International garnered three per cent to close at N13.75 per share.
Wema Bank gained by 1.76 per cent to close at N3.46 per share.
Conversely, Regency Alliance Insurance led the loser’s chat with a depreciation of 7.41 per cent to close at 25k per share.
Unity Bank followed dropping by 6.98 per cent to close at 40k per share, while Access Bank Holding lost by 5.14 per cent to close at N8.30 per share.
Cornerstone Insurance declined by 4.76 per cent to close at 60k, while United Bank for Africa (UBA) shed 4.70 per cent to close at N7.10 per share.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 9.04 per cent.
A total of 107.49 million shares valued at N1.15 billion were exchanged in 3,303 deals.
FBNH Holding recorded the highest volume of 12.02 million traded shares valued at N120.67 million.
It was followed by Zenith Bank, which sold 11.97 million shares worth N235.91, while Access Bank holding transacted 11.35 million shares valued at N92.28.
Also, UBA traded 9.07 million shares valued at N66.45, while Guaranty Trust Holding Company (GTCO) transacted 6.68 shares worth N131.55 million.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Agriculture
Farmers seek subsidised farm inputs to boost food production in Taraba
The farmers said the high cost and limited availability of fertilisers and other essential farm inputs had become major constraints as the rainy season commenced.
Politics
Kaduna: 12,000 people defect to APC in Lere LG
Twelve thousand members of opposition political parties have defected to the All Progressives Congress in the Lere council area of Kaduna.
Anti-Corruption
LS Cable & System USA agrees to pay $4 million to resolve PPP loan fraud allegations
LS Cable & System USA has agreed to pay $4 million to the United States to resolve allegations of false claims for payments under the Paycheck Protection Programme loans.
Anti-Corruption
U.S. census official sentenced to prison for bribery, fraud
The contract was worth millions of dollars. In exchange for steering the contract and modifications, Ms Jones received kickbacks from YMJ Consulting and the subcontractor.
Anti-Corruption
Rockland Congruity to pay about $3 million over PPP loan fraud
As part of the settlement, Rockland admitted that in March 2021, it received a $1,709,099 second-draw PPP loan.
NationWide
NOA urges vigilance against Ebola threat
Ijeoma Ulasi, the deputy director and Health and Social Care Desk Officer of NOA in Enugu, made the call during a sensitisation programme on the disease in Enugu recently.
