The market loss was driven by price depreciation in large and medium capitalised stocks [Reuters/Akintunde Akinleye] Specifically, the market capitalisation which opened at N19.626 trillion lost N34 billion to close at N19.592 trillion. Also, the NGX All-Share Index dropped by 73.01 points or 0.19 per cent to close at 37,585.25, from 37,658.26 achieved on Friday. […]
Tag: XNSA_UBA
Bears grip equities as transactions decline by 25.2%
NGX Group records N670bn bonds YTD Despite predictions that Nigeria’s equities market would start the week on a positive footing, bearish sentiments dominated the market as the volume of transactions on the floor of the Nigerian Exchange Limited (NGX) fell by 25.22 per cent week-on-week (w/w). With investors liquidating their holdings to cash out the […]
Renewed bargain hunting lifts NGX capitalisation by N8 billion
Nigerian Exchange Group (NGX) The Nigerian Exchange Limited (NGX) halted three consecutive days of trading losses as renewed bargain hunting in most blue-chip stocks lifted market capitalisation by N8 billion. At the close of transactions yesterday, the All-Share Index (ASI) increased by 15.31 absolute points, representing a growth of 0.04 per cent to close at […]
Bears sustain dominance as index depreciates by 0.19%
Stock Exchange Bears’ dominance has remained unabated on the Nigerian Exchange Limited (NGX), as more bluechip stocks recorded price depreciation, causing the All-Share Index (ASI) to drop further by 0.19 per cent. Yesterday, the ASI dropped by 73.01 absolute point, representing a decline of 0.19 per cent to close at 37,585.25 points while the overall […]
Stock Exchange reviews market indices
The Nigerian Exchange (NGX) Limited has reviewed its sectoral market indices in order to reflect current trends at the stock market. The half-year review led to the entry and exit of some companies from several indices effective July 1, 2021. The Exchange explained that the indices were developed to allow investors to follow market movements […]
United Bank For Africa Sues Energy Firm, Polaris Bank Over N2.8 Billion
A Federal High Court sitting in Lagos has restrained Integrated Energy Distribution and Marketing Company Ltd and Polaris Bank from tampering, howsoever, with funds standing to their credit up to $6,759,000 (about N2.8 billion) or its equivalent in any currency in 25 banks, the Debt Management Office and Federal Ministry of Finance. Justice Daniel Osiaigor, […]
African Banker Awards 2021: Wigwe is Banker of the Year; Standard Bank Group is Bank of the Year
Wigwe wins award twice in a row Ecobank, FBNQuest Merchant Bank recognised in top categories Herbert Wigwe, group managing director and chief executive officer of Access Bank, has been named African Banker of the Year at the 2021 African Banker awards. It is the second year in a row the Access Bank group CEO would […]
African Banker Awards 2021: Wigwe is Banker of the Year; Standard Bank Group is Bank of the Year
Wigwe wins award twice in a row Ecobank, FBNQuest Merchant Bank recognised in top categories Herbert Wigwe, group managing director and chief executive officer of Access Bank, has been named African Banker of the Year at the 2021 African Banker awards. It is the second year in a row the Access Bank group CEO would […]
N2.1b ‘debt’: Court blocks five customers’ funds in 24 banks
Our Reporter A Federal High Court in Lagos has restrained Triton Aqua Africa Limited, Bharat Ventures Limited, Globus Resources Limited, Seafood Products Limited and Mr. Ashvin Samtani from accessing their N2,193,610,859.47 billion in 24 banks. Justice Oluremi Oguntoyinbo, who gave the order yesterday, ruled that the interim order subsists pending the hearing and determination of […]
Nigeria: CBN Gets Order to Freeze 194 Accounts in 17 Banks
The Central Bank of Nigeria, CBN has secured three separate interim orders from a Federal High Court in Abuja to freeze bank accounts linked to 194 business entities and individuals in 17 banks. This was contained in a post by the apex bank on its website yesterday pursuant to the court order. The freeze orders […]