CAPITAL MARKET Hunting for Value in Stock Market Goddy Egene writes that the decline recorded by the stock market in the first half of 2021 provides an entry opportunity for investors to gain in the second half of the year. The loss of N1.303 trillion in value recorded by the Nigerian stock market in the…
CAPITAL MARKET NGX All-Share Index Sheds 0.36% as Market Extends Bearish Trend The stock market opened for the week extending the negative performance of last week with the Nigerian Exchange (NGX) Limited All-Share Index (ASI) declining by 0.36 per cent to close at 37,857.89 yesterday. Similarly, the market capitalisation shed N70.9 billion to close lower…
CAPITAL MARKET FMDQ admits FBNQuest Merchant Bank’s N7.34b CP FMDQ Securities Exchange Limited has approved the quotation of the FBNQuest Merchant Bank Limited ₦7.34 billion Commercial Paper (CP) on its platform. The Series 19 CP under the bank’s ₦100.00 billion CP Programme is expected to support the issuer’s short-term funding requirements. According to FMDQ, the…
CAPITAL MARKET BUA Cement posts N209.4bn revenue, plans expansion BUA Cement Plc has announced that it generated N209.4bn in revenue for the financial year 2020 with operating income margin of 46.2 per cent. The Chairman of BUA’s Board of Directors, Ahmad Rabiu, announced during the company’s annual general meeting that revenue grew by 19.3 per…
CAPITAL MARKET Investors earn N147b as interest in dividend-paying stocks persists The increasing appetite for interim dividend-paying stocks has continued to propel transactions across all sectors on the Nigerian Exchange Limited (NGX), as investors’ wealth soared by N147 billion in three trading days. Specifically, the market capitalisation, which stood at N19.923 trillion when the market…
CAPITAL MARKET Stock market hits two-week high, investors gain N103bn Nigerian stocks closed with a market capitalisation of N20.03tn on Tuesday, its highest in two weeks as investors gained N103.23bn at the end of trading. The Nigerian Exchange Limited All-Share Index rose by 0.52 per cent to close at 38,418.04 basis points from 38,220.01bps on…
CAPITAL MARKET Investors gain N4.17bn as stock market rises further The Nigerian stock market saw a marginal increase of N4.17bn in its market capitalisation at the end of trading on Monday. The All-Share Index of the Nigerian Exchange Limited rose by 0.12 per cent to 38,220.01 basis points while the market capitalisation increased slightly to…
CAPITAL MARKET SEC Approves Seven NGX’s Derivatives Contracts Nigerian Exchange Limited (NGX) has received approval for seven derivatives contracts from the Securities and Exchange Commission (SEC). The approved contracts are: Access Bank Plc Stock Futures; Dangote Cement Plc Stock Futures; Guaranty Trust Bank Plc Stock Futures; MTN Nigeria Communications Plc Stock Futures; Zenith Bank Plc…
CAPITAL MARKET Flour Mills annual profit rises 127%, realizes N25.7bn The Flour Mills of Nigeria Plc has reported a 127 per cent increase in its profit after tax for the year ended March 31, 2021. The company said its after-tax profit rose from N11.4bn in 2020 to N25.7bn in 2021. In a statement by the…
CAPITAL MARKET Companies Raise N800 Billion in Bond Market Nigerian companies have raised over N800 billion bonds from the capital market in the first half of 2021 (H1) just as predicted by Norrenberger in its 2021 Economic Outlook Report. Norrenberger, a financial services group, had predicted in its 2021 economic outlook report published in December…