index

NSE Index Rise 0.7% as Profit Taking Moderates Appreciation

January 20, 2020 6:55 am

Profit taking by some investors moderated the growth of the Nigerian stock market last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciated by 0.69 per cent to close at 29,618.52.

The gain was lower than the record 9.1 per cent posted the previous week, which was the highest weekly growth in two years. Market capitalisation added N81.8 billion to close at N15.256 trillion.

Sustained investor confidence had two weeks ago lifted the market as appetite for risk assets increased significantly following low valuations of equities. Against the backdrop of the increased demand the year-to-date growth hit …

Profit Taking: NSE All-Share Index Drops 0.13%

December 14, 2019 8:35 am

The All-Share Index of the Nigerian Stock Exchange (NSE) on Friday bowed to profit taking after two-day upward trend.

The News Agency of Nigeria (NAN) reports that the index lost 33.59 per cent to close at 26,536.21 compared with 26,569.80 achieved on Thursday.

Also, the market capitalisation which opened at N12.823 trillion shed N18 billion to close at N12.807 trillion.

MTN dominated the laggards’ table with a loss of N2. 70 to close at N115.30 per share.

GlaxoSmithKline trailed with a loss of 55k to close at N5.25, while United Bank for Africa dipped 25k to close at N6.60 per …

Corruption Index: Ihedioha Must Apologise To Okorocha

December 9, 2019 10:44 am

A group, Association of Imo Patriots, has called on the Governor of Imo state, Emeka Ihedioha to apologise to the immediate past governor of the state, Rochas Okorocha following the recently released Second Corruption Survey in Nigeria by the National Bureau of Statistics, which ranked Imo as the least corrupt of the 36 States.

In a statement issued on Monday by the Spokesman of the group, Emma Ezekwe, said that the report was especially timely, considering the enormous resources being wasted by Ihedioha in his bid to malign his predecessor.

He stated: “We have received with delight the recently released …

World Bank Lied In Their Doing Business Index (DBI) Report

October 25, 2019 3:36 am

Stakeholders yesterday disagreed over the higher ranking of Nigeria by the World Bank in its 2020 Doing Business Index (DBI).

The global bank, in its report which was released yesterday, ranked Nigeria 131 out of 190 countries, up 15 places from 146th position last year. The report also named Nigeria as one of the top 10 most improved economies in the world for the second time in three years.

Nigeria is one of only two African countries to make this highly prestigious list. With this year’s leap, the country has improved an aggregate of 39 places in the World Bank …

Interest In Bellwethers Lift Stocks Index By ₦15 Billion

October 24, 2019 1:32 am

Following investors renewed appetite in some bellwether stocks, the Nigerian equities market rebounded yesterday, as market capitalisation appreciated by ₦15 billion.

Specifically, at the close of transactions, the All -Share Index (ASI) rose by 32.11 points or 0.12 percent to 26,397.94 points. Accordingly, investors gained ₦15 billion in value as market capitalisation rose to ₦12.850 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which were; Dangote Cement, United Bank for Africa (UBA), FBN Holdings, UACN Property Development Company, and Omoluabi Mortgage Bank.

Analysts at Afrinvest Limited said: “Notwithstanding yesterday’s positive performance, we maintain

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