Nigerian equities reopened yesterday on a negative note as widespread selloffs within the large-cap stocks led the market to a net capital loss of N220 billion. The All Share Index (ASI)-the main index that tracks share prices at the Nigerian Stock Exchange (NSE) dropped by 602.81 points, representing a loss of 1.71 per cent to […]
Tag: XNSA_GUARANTY
NSE market capitalisation shed N219 billion
Nigeria Stock Exchange (NSE) The market capitalisation of the Nigerian Stock Exchange (NSE) on Monday shed N219 billion, ahead of Eid-El-Kabir. The loss by the market capitalisation was as a result of huge losses suffered by major highly capitalised equities. Specifically, the market capitalisation dipped N219 billion to close at N12. 655 trillion compared to […]
Zenith Bank, GTBank, 9 Others Pay N65bn Tax In 6 Months
11 Deposit Money Banks (DMB’s) listed on the Nigerian Stock Exchange (NSE) have reported a total of N64.557 billion in taxes for the first half of the year, 2018. The banks include Zenith Bank, Guaranty Trust Bank, Ecobank Transnational Corporation (ETI), Stanbic IBTC Group, FBN Holdings, FCMB Group and Diamond Bank. The figure represents a […]
Political tension, sell-off sustain pressure on NSE’s indices
Analyst sees gloomy week, as bargain hunting continues Political tension ahead of the 2019 general elections, persistent sell-offs, as a reaction and bargain hunting by investors, have continued to spur free fall of equity prices. Consequently, the All-Share Index and market capitalisation of the Nigeria Stock Exchange (NSE) tumbled for 10 consecutive times to close […]
Betaglass, Presco Nosedive on NSE
The bears resurfaced on the Nigerian Stock Exchange (NSE) on Tuesday following loses recorded by some blue chips. Betaglass dominated the bears with a loss of N8.10 to close lower at N72.90 per share. Presco trailed with a loss of N6.60 to close at N59.55, while Lafarge Africa declined by N3.25 to close at N29.25 […]
GTB posts N109.6b profit in six months
Nigeria’s largest financial institution and the third most capitalised quoted company, Guaranty Trust Bank (GTB) Plc recorded steady growths in the top-line and bottom-line in the first half with profit before tax rising to N109.6 billion within the period. The board of the bank has announced that N8.83 billion would be distributed to shareholders as […]
H1 Results: Zenith, UBA, 3 Others To Pay Interim Dividend
Going by history, market analysts have predicted that about five banks might pay interim cash dividends to shareholders as companies continued to released their half-year corporate results ended June 30, 2018. The banks include: Zenith Bank, United Bank for Africa (UBA), Guaranty Trust Bank (GTBank), Stanbic IBTC and Access Bank. Zenith Bank, in its regulatory […]
Enugu Govt Seals Banks, Others over Non-payment of N200m Tax
The Enugu State Board of Internal Revenue after obtaining court orders, yesterday carried out a distrainment exercise on four banks and two other private firms, located in Enugu metropolis and Nsukka, for non-payment of taxes due to the state government, totaling over N200 million. The affected companies, according to the board’s Director of Back Duty […]
CBN allays fears over falling external reserves, capital outflows
’Femi Asu The Central Bank of Nigeria has said the recent decline in the nation’s foreign exchange reserves and capital outflows from the country are not a cause for worry. The external reserves, which rose to a high of $47.865bn on May 10, fell to $46.461bn on August 15, while the nation has seen an […]
High Cap Stocks gains push stock market indices by N39b
Nigeria Stock Exchange, Lagos Equity transactions on the equity sector of the Nigerian Stock Exchange (NSE) reopened upbeat yesterday, following price gains recorded by most Highly Capitalised (High Cap) stocks, as market capitalisation rose by N39billion. Specifically, at the close of transactions yesterday, the All Share Index (ASI) gained 108.52 absolute points, representing a growth […]