Tuesday, August 11African Business News
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Capital Market

High-cap stocks, anticipation of dividends push NSE index by 1.41%

High-cap stocks, anticipation of dividends push NSE index by 1.41%

Capital Market
Demand for undervalued high capital stocks, and anticipations of dividends payment by some quoted companies propelled five consecutive days of rally at the equities sector of the Nigerian Stock Exchange (NSE), causing investors’ fortunes to rise, and the NSE All-share index and market capitalisation to appreciate by 1.41 per cent to close the week at 25,041.89 and N13.063 trillion, respectively. Similarly, all other indices finished higher with the exception of NSE Insurance Index, which depreciated by 0.28 per cent, while the NSE ASeM closed flat. Analysts at the weekend, expressed missed feelings on the sustainability of the bulls’ run due to inconsistent government policies, which have continued to dampen confidence. According to them, this is likely to support volatility with th...
SEC expands operations to enhance stakeholders’ education

SEC expands operations to enhance stakeholders’ education

Capital Market
To enhance the Securities and Exchange Commission (SEC) market development initiative, the Nigerian Capital Market Institute (NCMI), has unveiled plans to deepen stakeholders’ education. The Managing Director, Ismaila Ville, while speaking after the successful accreditation of the Institute in Abuja, said the NCMI is the educational and training arm of the markets regulator, the SEC. Ville, who said the accreditation would be beneficial to the Institute and to the capital market community at large, also said it had previously been identified by the Chartered Institute for Securities & Investment  (CISI), as an accredited training (ATP) provider of global certification to operators in Nigeria. He said the vision of the SEC management is for the NCMI to become a world-class ...
Equities record largest fall in three weeks, as investors lose N70b

Equities record largest fall in three weeks, as investors lose N70b

Capital Market
Weak sentiments and selloffs across bellwether stocks, especially MTN Nigeria, Guaranty Trust Bank, and Seplat led to the market’s largest fall in three weeks, as investors fortunes slumped further by N70 billion. At the close of trading yesterday, the All-Share Index (ASI) decreased by 133.45 absolute points or 0.54 per cent to close at 24,650.16 points. Similarly, investors lost N70 billion as market capitalisation fell to N12.859 trillion. The downturn was impacted by losses recorded in large and medium value stocks, including Seplat Petroleum Development Company, Total Nigeria, MTN Nigeria Communications (MTNN), Julius Berger, and Guaranty Trust Bank. Analysts at Afrinvest Limited predicted that the performance of the market this week would be majorly dictated ...
Unity Bank, GTB, others lift NSE’s index by N186b

Unity Bank, GTB, others lift NSE’s index by N186b

Capital Market
Following price gains by most blue-chip stocks, especially Unity Bank, and Guaranty Trust Bank (GTB), transactions on the equities sector of the Nigerian Stock Exchange (NSE), reopened upbeat yesterday, as market capitalisation appreciated by N186 billion. At the close of trading, Monday, the All-Share Index (ASI) increased by 355.88 absolute points or 1.46 per cent to close at 24,783.61 points. Also, investors gained N186 billion as market capitalisation advanced to N12.929 trillion. The upturn was impacted by gains recorded in large and medium capital stocks, including Guaranty Trust Bank, Dangote Cement, Lafarge Africa, Zenith Bank and United Bank for Africa (UBA). Analysts at Imperial Asset Managers Limited, said: “We expect the current volatility (up and down movement) to con...
Lawmakers partner SEC to tackle issues impeding market growth

Lawmakers partner SEC to tackle issues impeding market growth

Capital Market
The House of Representatives Committee on Capital Markets and Other Institutions, has expressed commitment to work closely with the Securities and Exchange Commission (SEC), to substantially tackle issues impeding the growth of the local bourse, which can be resolved through the provision of enabling laws. The Chairman of the Committee, Babangida Ibrahim, while speaking during a meeting with the new management of the SEC in Abuja, said: “We have all agreed that there is a need to work together to substantially reduce these challenges. These challenges include policy issues, legislative issues and can also be operational issues. “But what is important is that we have all agreed that there is a need to look inwards to see how best we can boost confidence in the market, and to also make...
Weak sentiments persist as NSE index dips further by 0.39%

Weak sentiments persist as NSE index dips further by 0.39%

Capital Market
Continued price losses suffered by most blue-chip stocks, sentiments remained weak on the equities sector of the Nigerian Stock Exchange (NSE) yesterday, as the All-Share Index fell by 0.39 per cent. In summary, the All-Share Index (ASI) dipped by 95.13 absolute points or 0.39 per cent to close at 24,174.45 points. Similarly, the overall market capitalisation shed N49 billion to close at N12.611 trillion. Despite the downtrend in the market in the first two trading days of the week, capital market analysts expected the continued release of half-year results to spur reactions in the market, as investors strive to take profitable positions. The downturn was impacted by losses recorded in large and medium capital stocks, including Dangote Cement, Chemical and Allied Products (CAP), I...
Market sustains slide as GSK, others lead N1billion losses

Market sustains slide as GSK, others lead N1billion losses

Capital Market
The Nigerian equities sector sustained a sliding profile at the end of yesterday’s transactions, as more blue-chip stocks, especially GSK, African Prudential, and others joined the league of losers, resulting in a further slide in market capitalisation by N1 billion. At the close of trading Wednesday, at the Nigerian Stock Exchange (NSE), the All-Share Index (ASI) fell by 0.92 absolute points, about 0.004 per cent down to close at 24,173.53 points. Similarly, the overall market capitalisation shed N1 billion to close at N12.610 trillion. The marginal downturn witnessed in the market was as a result of price depreciation in the shares of GlaxoSmithKline (GSK) Consumer Nigeria, Africa Prudential, Caverton Offshore Support Group, Sterling Bank, and Consolidated Hallmark Insurance. ...
Weak sentiments persist as NSE index dips further by 0.39%

Weak sentiments persist as NSE index dips further by 0.39%

Capital Market
Continued price losses suffered by most blue-chip stocks, sentiments remained weak on the equities sector of the Nigerian Stock Exchange (NSE) yesterday, as the All-Share Index fell by 0.39 per cent. In summary, the All-Share Index (ASI) dipped by 95.13 absolute points or 0.39 per cent to close at 24,174.45 points. Similarly, the overall market capitalisation shed N49 billion to close at N12.611 trillion. Despite the downtrend in the market in the first two trading days of the week, capital market analysts expected the continued release of half-year results to spur reactions in the market, as investors strive to take profitable positions. The downturn was impacted by losses recorded in large and medium capital stocks, including Dangote Cement, Chemical and Allied Products (CAP), I...
Investment One Promotes Financial Literacy

Investment One Promotes Financial Literacy

Capital Market
Investment One Financial Services Limited, one of Nigeria’s leading investment groups, is complimenting the efforts of the Nigerian Stock Exchange (NSE), to spread the knowledge of investment in Nigeria. The tech savvy company, in its bid to pursue this objective, recently organised a virtual investment simulator (VIS) to enhance investors’ knowledge in trading shares in the stock market. VIS provides a gaming environment where individuals can interact with the Nigerian Stock Exchange in near-real time. According to a statement from the company, it provides a platform for amateur traders to improve their skills and to compete for prizes in a competition. To spur the interest of emerging investors, a platform was created for people to participate in what it christened ‘The Inve...
Bargain hunting lifts NSE’s index by 0.06%

Bargain hunting lifts NSE’s index by 0.06%

Capital Market
Following bargain-hunting in some blue-chips, especially Airtel Africa and Sunu Assurance, the domestic equities market closed positive for the first time in the week, as the All-Share Index rose 0.06 per cent. At the close of transactions yesterday at the Nigerian Stock Exchange (NSE), the ASI increased by 15.67 absolute points or 0.06 per cent growth to close at 24,130.26 points. Similarly, the overall market capitalisation gained N8 billion, an increase of 0.07 per cent to close at N12.588 trillion as a result of the listing of Tranzact International Plc Rights Issue of 4.67 billion Ordinary Shares of 50 Kobo each at N1.50 per share on the basis of 10 new ordinary shares for every nine ordinary shares. The upturn was impacted by gains recorded in large and medium value stocks, ...