By Seun Ibiyemi Investors in the Nigerian Exchange Limited (NGX) gained N1.755tn on Monday as the equities market sustained its bullish momentum, driven by renewed buying interest in large-cap stocks. The positive sentiment lifted the overall market capitalisation by N1.755tn to close at N158.812tn, while the benchmark All-Share Index (ASI) advanced by 2,721.83 points, or…
The Nigerian stock market closed on a positive note last week, with banking and consumer goods stocks driving gains as investors returned to fundamentally strong equities amid renewed bargain hunting. Market data showed that the Nigerian Exchange Limited (NGX) market capitalisation rose by N613 billion week-on-week to close at N157.057 trillion, up from N156.444 trillion…
By Seun Ibiyemi Investors on the Nigerian Exchange (NGX) lost more than ₦1.3 trillion on Monday as the equities market opened the week on a negative note, extending its bearish run for a second consecutive trading session. The local bourse witnessed intense selloffs that dragged key performance indicators lower by 0.84 per cent, as investors…
By Seun Ibiyemi Investors on the Nigerian Exchange (NGX) recorded a gain of ₦3.17 trillion on Monday as renewed buying interest in banking, industrial and oil and gas stocks reversed last week’s losses, lifting the equities market by 2.15 per cent. The bullish session was driven by bargain hunting in mid-cap and blue-chip stocks, signalling…
The Nigerian equities market extended its bearish run on Wednesday, with the benchmark All-Share Index (ASI) declining by 1.63 per cent, weighed down by heavy profit-taking in Aradel Holdings Plc. Market data showed that sustained sell-offs in the oil and gas firm’s shares significantly pressured the broader market, pushing the Nigerian Exchange Limited (NGX) deeper…
The planned public listing of Dangote Petroleum Refinery has ignited intense investor interest across Nigeria and international markets, with the proposed Initial Public Offering (IPO) expected to raise as much as $2 billion and become the largest stock market listing in Africa’s history. According to a Bloomberg report published on Thursday, institutional investors have already…
By Seun Ibiyemi The Nigerian stock market extended its losing streak on Thursday as investors lost N958 billion in market value following sustained profit-taking in several medium and large-capitalisation stocks. The market capitalisation declined by 0.64 per cent to close at N149.888 trillion, down from N150.846 trillion recorded in the previous trading session. Similarly, the…
By Seun Ibiyemi Investors on the Nigerian Exchange (NGX) recorded a gain of N1.639 trillion on Tuesday as bullish sentiment persisted across major sectors of the market, including banking, insurance, telecommunications, consumer goods, real estate and industrial stocks. The positive performance lifted the market capitalisation by 1.06 per cent to N154.484 trillion from N152.845 trillion…
By Seun Ibiyemi The Nigerian stock market rebounded on Monday, ending a six-session losing streak as investors gained N1.518 trillion, driven largely by renewed buying interest in banking and insurance stocks. The recovery was led by strong performances in equities such as First HoldCo, Guaranty Trust Holding Company (GTCO), Zenith Bank and International Energy Insurance,…
By Seun Ibiyemi The Securities and Exchange Commission (SEC) of Nigeria and the Capital Markets Authority (CMA) of Rwanda have signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation on capital market regulation, enforcement and supervisory activities. The SEC disclosed the development in a statement issued in Abuja on Monday, noting that the agreement…
