NSE halts gains with N29bn loss

The Nigerian Stock Exchange performance indices, the NSE All Share Index (ASI) and market capitalisation, yesterday fell by 0.22 per cent to halt its gaining streak as profit taking hits the equities market following investors crave to increase capital gains. Driven by decline in value of blue chip companies, the equities market closed the trading day negative. Consequently, the All-Share Index dropped by 53.22 basis points or 0.22 per cent to close at 25,166.01 basis points as against 25,221.23 recorded the previous day while the market capitalisation of equities depreciated…

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NSE advances with N85bn gain

  The bulls maintained grip on market activities as stocks sustained rallies for the second  trading session following gains recorded by blue chip stocks as investors positioned to leverage undervalued stocks. The key market performance measures, the NSE All Share Index, rose by 0.77 per cent as market sentiments extended gaining streaks following sustained optimism on undervalued stocks. Consequently, the All-Share Index gained 183.48 basis points or 0.77 per cent to close at 23.892.92 as against 23.709.44 recorded the previous day while the market capitalisation of equities appreciated by N85…

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Investors bracing for shortfall post-COVID-19

Following a live poll conducted by Africa.com recently as part of its webinar series, crisis management for African business leaders, reports show that nearly 70 per cent of webinar participants (private sector operators) predicted that their businesses’ revenue would decrease by more than 10 per cent this month. TAIWO HASSAN reports     With the gradual easing of lockdown after about five weeks in Nigeria, particularly, Lagos and the Federal Capital Territory (FCT) Abuja, the true picture is expected to start manifesting on many businesses as companies re-strategize to focus…

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NSE extends gain with N110bn

Nigerian Stock Exchange yesterday sustained its positive outlook for the ninth consecutive trading session as the overall performance measures, NSE ASI and market capitalisation, rose further by 0.87 per cent each. Market watchers attributed the development to renewed confidence as bargain hunters leverage on undervalued stocks. Consequently, the All-Share Index rose by 210.88 basis points or 0.87 per cent to close at 24.354.25 index points as against 24.143.37 recorded the previous day while market capitalisation of equities appreciated by N110 billion or 0.87 per cent to close higher at N12.692…

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…supports fight against COVID-19 with N100m

The Nigerian Stock Exchange (NSE) has committed N100 million to support the fight against the Coronavirus (COVID-19) pandemic in Nigeria. According to a statement from the exchange, N60 million out of the sum will be donated to the Capital Market Support Committee for COVID-19 (CMSCC), while the balance N40 million will be devoted to the “Masks For All Nigerians” campaign. The CMSCC is a Securities and Exchange Commission (SEC)-led committee, comprising the capital market community, which was set up to galvanise the capital market ecosystem to play an active role…

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Analysts predict persistent sell-off in stock market

Financial analysts at Cordros Capital have reiterated its cautious outlook for domestic equities, with selloffs likely to persist ahead of the 2019 elections, and amidst dearth of catalytic macro stories. The analysts, while in their overview of markets in September 2018 and outlook, said notwithstanding expected inflows via maturing OMO bills, bond coupon payments, as well as budgetary allocations, which they estimate to be in the region of N400 billion to state and local governments, overnight rate was unlikely to soften materially in October, with the central bank’s OMO auctions…

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Stock market closes week positive with 0.23% gain

Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed last week on the positive trajectory as the NSE All-Share Index and Market Capitalisation appreciated by 0.23 per cent to close the week at 32,456.98 and N11.849 trillion respectively. Similarly, all other indices finished higher with the exception of the NSE ASeM index, NSE Insurance Index, NSE Consumer Goods Index and NSE Oil/Gas Index that closed lower by 1.25 per cent, 1.71 per cent, 0.72 per cent and 0.88 per cent respectively. A total turnover of 915.856 million…

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Stock market extends weekly gains by 0.70%

Trading activities on the floor of the Nigerian Stock Exchange (NSE) ended the last week of September on the positive route, as the NSE All-Share Index and Market Capitalization appreciated by 0.70 per cent to close last week at 32,766.37 and N11.962 trillion respectively. Similarly, all other indices finished higher with the exception of the NSE Consumer Goods, NSE Oil/Gas, NSE Lotus II and NSE Industrial Goods indices that finished lower by 0.51 per cent, 0.73 per cent 0.40 per cent and 1.36 per cent respectively while the NSE Asem…

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Stock market halts weekly losses

Claws back 0.66%   Investors in firms quoted on floor of the Nigerian Stock Exchange (NSE) got relief last weekend, as the NSE All-Share Index and Market Capitalization appreciated by 0.66 per cent to close the week at 32,540.17 and N11.880 trillion respectively, halting weekly losses which has pervaded the equities market in recent times. Similarly, all other indices finished higher with the exception of the NSE ASeM, NSE Insurance and NSE Lotus indices that finished lower by 1.51 per cent,4.90 per cent and 0.26 per cent respectively. STOPPED A…

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Stock market gains N40bn on renewed bargain hunting

  Trading on the floor of the Nigerian Stock Exchange (NSE) returned on the upbeat after days of downswing occasioned by sell offs. The fledging bulls regained their grip on the market activities, as investors took position on the blue chip companies, despite speculation that the local bourse will sustain bearish trends. With the overall performance indicators, NSE ASI and market capitalisation, each appreciating by 0.33 per cent, investors got respite, as transactions on blue chip companies lifted the equities market. Consequently, the All-Share Index gained 105.77 basis points or…

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