Nigerian Equities Market Slumps N1.17 Trillion on Monday

Equities Market Opens Week Lower, N1.173 Trillion Lost in Capitalisation The Nigerian equities market opened the week on a negative note on Monday, losing N1.173 trillion or a 1.26 per cent decline. The downturn was largely driven by profit-taking in major stocks, including Dangote Cement, Enamelware, Transcorp Power, AIICO Insurance, and Guinea Insurance. Market capitalisation closed at N92.328 trillion, down from the opening value of N93.501 trillion. The All-Share Index (ASI) dipped by 1,853.82 points, or 0.26 per cent, ending at 145,159.77 compared with 147,013.59 on Friday. Despite the overall decline, market breadth remained positive, with 28 stocks gaining against 24 losers. Top Gainers: Top Losers: Trading Activity:Total turnover for the day stood at 388.2 million shares worth N31.14 billion, traded in 28,492 deals. This was lower than Friday’s volume of 4.89 billion shares valued at N42.2 billion across 24,152 transactions. Notable Trades:

Nigeria’s Equity market gains N1.216trn

The successful inauguration of the 10th National Assembly on Tuesday impacted positively on Nigeria’s capital market as the equity market appreciated by N1.216 trillion. Market capitalisation of listed equities increased by 3.99 per cent to N31.670 trillion from N30.454 trillion it closed on Friday. Also, the NGX All Share Index also appreciated 2232.58 points to 58163.55 points from 55930.97 points traded the previous day. Meanwhile, an analysis of the trading activities during the day showed that GTCO Plc Lasaco Insurance Plc, Nascon led activities with a gain of 10 per cent to close at N30.80, N1.98 and N17.05  per unit respectively. Zenith Bank and Access Corp also closed higher with 10 per cent each to N30.80 per cent and N14.30 per share respectively. On the contrary EllahLakes and JohnHolt recorded the highest loss with a drop of 10 per cent each to N3.60 and N1.26 per share respectively. TiP trailed with a loss of 9.62 per cent to close at N0.47 per share, Caverton dropped by 4.62 per cent to close at N1.24 per unit, Veritas Kapital fell by 4.35 per cent to close at N0.22 per unit.Investors traded 1.186 billion shares valued at N19.225 billion in 10369 deals against 574.737 million shares worth N6.085 billion exchanged hands the previous day in 6595 deals. Transactions in the shares of United Bank for Africa led activity with 214.944 million shares valued at N2.333 billion in 608 deals, GTCO Plc followed with account of 208.061 million shares worth N6.243 billion in 613 deals, Zenith Bank traded 85.699 million shares cost N2.623 billion in 743 deals, Japaul Gold exchanged 72.595 million shares valued at N37.401 million in 216 deals, Access Corp sold a total of 72.111 million shares valued at N1.015 billion in 658 deals.

Nigeria’s quity market sheds N37bn

Nigeria’s equity market declined on Thursday, dropping by N37 billion amid investors’ profit taking in some small and medium stocks. The decline was largely due to negative sentiment. Market capitalisation of listed equities declined by 0.12 per cent to N30.468 trillion from N30.505 trillion reported the previous day. Also, the NGX All Share Index depreciated by 67.93 basis points to close at 55956.59 points from 56024.52 points reported on Wednesday. The NGX trading result showed that   five top gainers during the day appreciated by 10 per cent as ETranzact and NSL Tech gained 10 per cent each to close at N4.84 and N0.33 per share, respectively. Unity Bank Plc, Japaul and Sovereign Trust Insurance added 10 per cent each, closing at N0.66 per cent, N0.44 and N0.44 per share respectively. On the contrary JohnHolt recorded the highest loss during the day, declining by 9.68 per cent to N1.40 per share, Caverton trailed with a loss of 7.14 percent to close at N1.30 per share, Wapic Insurance dipped by 6.52 per cent to close at N0.43 per unit, Gloxosmith Kline down by 5.30 per cent to close at N7.15 per share, Stanbic IBTC sheds 3.02 per cent to close at N45.00. Volume of trades during the day increased by 134.160 million, representing an increase of 33.74 per cent as Investors traded 521.784 million shares valued at N7.682 billion in 6061 deals against 397.624 million shares worth N6.537 billion in 5613 deals. Transactions in the shares of United Bank for Africa led activity chart during the day, exchanging 177.475 million shares valued at N1.724 billion , NPF Microfinance Bank followed with account of 51.802 million shares valued at N93.274 billion, AccessCorp traded 32.102 million shares valued at N412.986 million, Zenith Bank Plc sold a total of 30.823 million shares at the cost of N863.314 million, while Dangote Sugar traded 19.302 million shares valued at N407.969 million

Abductions/Killings: Engineers give FG 18 days’ ultimatum

The Nigerian Society of Engineers (NSE) has given the Federal Government 18 days’ ultimatum to fish out and prosecute killers and abductors of its members across the country. The President of NSE, Mr. Tasiu Gidari-Wudil gave the ultimatum at a news conference in Abuja on the killings and abduction of its members. He said over the years, the society has been inundated with reports of abduction and vicious killings of its members across the country, especially in the South-East. Gidari-Wudil said the most recent of such cases was the report of the killing of Mr Donatus Udeh, who was abducted on April 22. “Three days later, his mutilated, lifeless body and vehicle were found at different locations within 9th Mile Corner, Ngwo, Enugu State on April 25. “The late Engr. Udeh was, until his demise, the Vice Chairman of the Enugu Branch of the Nigerian Society of Engineers. “In a similar way, five Engineers from NELAN Engineering Consulting Limited were abducted on their way to inspect a project site in Ebonyi on Nov. 3, 2021. He said the victims, Nelson Onyemeh, Earnest Edeani, Ikechukwu Ejiofor, Samuel Aneke and Engr. Stanley Nwazulum were to be on a supervisory visit to the $150 million Abakaliki Ring Road project. The president said that until this moment, the Police have not unraveled the mystery behind the disappearance of the hardworking professionals. He said presently, the life of one of the Executive Committee members of NSE was under threat just because she was supervising a project in Ebonyi. The president said it was a shame to continually witness these cruel killings without any respite from the government. He said that the primary purpose of government was the security and welfare of the people, as provided in section 14(b) of the 1999 Constitution of the Federal Republic of Nigeria (as amended). Gidari-Wudil said that when all the professionals are killed, who would construct the roads, build bridges and waterways. “The engineer saves lives and improves the quality of living by her innovative ideas and inventions. “The slain engineers were exactly on such patriotic nation-building and economy- stimulating course when they were cut down. “It is an irony that such breed of humans would be targeted for such brutality without a convincing action by the government to bring the perpetrators to book. “Going forward, I hereby make an appeal to the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria to wade into the matter,” he said.