Nigeria’s Equity Market Rescinds, Sheds N13bn

Trading activities on the floor of Nigerian Exchange on Wednesday closed on a negative note, declining by N13 billion, as investors embark on profit taking activities. Market capitalisation of listed equities declined by 0.03 per cent to N37.400 trillion from N37.413 trillion reported the previous day. The NGX All Share Index also depreciated by 23.50 basis points to 68335.72 points from 68359.22 points traded the previous day. A review of the investment showed that Sunu Assurance led gainers table, increasing by 10 percent to N0.88 per share, Berger Paint followed with a gain of 9.91 per cent to close at N12.75 per unit, Oando Plc added 9.77 per cent to close at N14.60 per share, Chams Plc up by 9.77 per cent to close at N1.40 per unit while MRS increased by 9.47 per cent to close at N104.00 per share. On the contrary, TranscoHotel topped losers’ chart, dropping by 10 per cent to close at N45.90 per share, IkejaHotel trailed with 9.93 per cent to close at N2.72 per share, Chi Plc fell by 7.41 per cent to close at N1.00, NSLTech dipped by 7.41 per cent to close at N0.25 per unit, while Glaxosmith sheds 7.38 per cent to close at N11.30 per unit. Volume of trades declined by 110.105 million, representing 16.27 per cent as investors traded 566.631 million shares valued at N5.386 billion in 8201 deals against 515.280 million shares worth N5.893 billion in 7659 deals. Transactions in the shares of Oando Plc led market activities with 109.996 million shares valued at N1.599 billion, Courtvellle Business Solutions followed with account of 66.002 million shares cost N32.569 million, Chams Plc traded 56.388 million shares valued at 56.388 million shares cost N81.804 million Japaul Gold traded 36.630 million shares valued at N35.248 million Access Corp traded 32.530 million shares valued at N563.305 million.

36 Military officers lost in tragic incident in Niger State -DHQ

In a heartbreaking announcement, the Defence Headquarters (DHQ) has confirmed that 36 military officers lost their lives in Niger State. Speaking during the biweekly briefing of the Defence Media Operations, Major General Edward Buba, the Director of Defence Media Operations, provided a somber breakdown of the casualties stemming from two separate incidents: an ambush on troops and a tragic helicopter crash that occurred on August 14, 2023. Responding to inquiries about the helicopter crash’s cause, Major General Buba reiterated that a comprehensive investigation is currently underway to ascertain the factors behind the incident. He also emphasized the importance of remaining vigilant against terrorist propaganda and staying steadfast in one’s patriotic commitment. According to him, the tragedy unfolded when insurgents ambushed troops in the Zungeru area of Niger State, resulting in the ultimate sacrifice paid by valiant members of the Nigerian Army. Additionally, in a separate incident, a Nigerian Air Force MI-171 Helicopter, en route for a casualty evacuation mission, tragically crashed in the Shiroro Local Government Area (LGA) of the state.

Nigeria’s equity market sheds N15bn

Trading activities on the floor of Nigerian Exchange (NGX) closed Tuesday depreciating by N15 billion. arket capitalisation of listed equities declined by 0.04 per cent to 63309.65 points from 65336.71 points traded the previous day.The NGX All Share Index also depreciated by 27.06 basis points to 65309.65 points from 65336.71 points recorded the previous day.A review of the transactions during the day showed that Guinness Nigeria Plc led gainers table in percentage terms, gaining 10 per cent to close at N60.50 per share, Gkaxosmith followed with a gain of 9.74 per cent to close at N10.70 per share, Chellaram added 9.73 per cent to close N3.72 per unit, TIP grew by 9.72 per cent to close at N0.79 per share while Universal insurance gained 9.09 per cent to close at N0.24 per share.On the contrary, NSLTech topped losers chart with 10 per cent to close at N0.27 per unit, Northern Nigeria Flour Mills followed with a drop.of 9.89 per cent to close at N12.30 per share, JohnHolt dipped by 9.52 per cent to close at N1.33 per unit, Tantalizer down by 8.33 per cent to close at N0.33 per share, Mutual Benefits fell by 7.69 per cent to close at N0.48 per unit.The volume of trades went down by 16.525 million, representing 4.94 per cent as investors traded 317.808 million shares valued at N4.471 billion in 6376 deals against 334.333 million shares costing N3.891 billion in 6940 deals. Transactions in the shares of AccessCorp led market activities with 49.355 million shares valued at N86.161 million, Sterling Bank followed with account of 43.823 million shares cost N153.936 million, Universal insurance traded 28.863 million shares cost N6.896 million, FCMB group traded 18.125 million shares worth  N112.162 million while FBNHoldings exchanged 14.301 million shares cost N261.734 million.

Federal High Court Justice Mallong is dead

A Judge in the Federal High Court, Justice Peter Mallong, has died. Justice Mallong, who was from Plateau, was born on January 21 1963 in Yauri, Kebbi State died on Sunday after a brief illness. The Chief Registrar, Federal High Court of Nigeria, Hassan Sulaiman, confirmed this to NIGERIAN ANCHOR correspondent. He said, “Hon. Justice Peter Hoommuk Mallong, a judge of the Federal High Court, passed away on July 30, 2023, unexpectedly after a brief illness in Abuja. We will miss him more than words can express. “Funeral arrangements will be communicated to the public in due time.” He said, “Hon. Justice Peter Hoommuk Mallong, a judge of the Federal High Court, passed away on July 30, 2023, unexpectedly after a brief illness in Abuja. We will miss him more than words can express. “Funeral arrangements will be communicated to the public in due time.”