Markets
Bellwether stocks lift Nigerian equity market
The Nigerian Exchange (NGX) appreciated on Monday on the back of gains recorded by MTNN, DANGCEM, and ZENITH.
The NGX All-Share Index rose 1.3% to 42,411.12 points, while market capitalisation gained ₦275.6bn to ₦22.1tn and the year-to-date returns improved to 5.3%.
Trading activity weakened as volume and value traded fell 48.4% and 3.9% respectively to 229.6m units and ₦3.3bn.
UNITYBNK (48.3m units), UNIVINSURE (21.1m units), and FBNH (19.9m units) led by volume while NESTLE (₦846.8m), DANGCEM (₦746.0m), and GTCO (₦336.8m) led by value.
The AFR-ICT and Industrial Goods indices gained 3.5% and 0.7% respectively on the back of price appreciation in MTNN (+7.1%), DANGCEM (+1.2%), and WAPCO (+0.6%).
Leading the laggards, the Oil & Gas index shed 0.9% due to sell-pressure on OANDO (-4.3%). Similarly, the Banking, Insurance and Consumer Goods indices dipped 0.5%, 0.2% and 0.1% respectively following the decline in GTCO (-1.9%), WAPIC (-5.9%), and CHAMPION (-4.1%).
MEYER (+9.1%), ACADEMY (+8.5%), and FTNCOCOA (+8.1%) led gainers while NASCON (-6.8%), CORNERST (-6.0%), and WAPIC (-5.9%) led decliners.
US authorities slam Air Peace boss, Onyema, with fresh fraud charges
Report: NUPRC has not approved $1.3bn Shell Renaissance deal
There’s a plan to derail Tinubu’s petroleum industry revolution
NNPCL’s acquisition of OVH: Reps member, Miriam Onuoha, slams Atiku, says oil and gas sector should not be politicised
Fidelity Bank affirms commitment to data protection, strong corporate governance
NGX rates Fidelity Bank highest on corporate governance
Like Saudi Aramco, NNPC Ltd under Kyari is creating value for Nigerians
NNPCL FY’23: Kyari stands tall in spite of disruptors’ intrigues
Arewa groups accuse Ugochinyere of plot to blackmail Speaker Abass, deputy, call for probe
CNPP and its failed evil campaign against NNPCL, Kyari
Arewa youths slam Dangote, say ‘you can’t dictate fuel price’
Warn Agbese over false allegations against NNPCL, NMDPRA, group tells reps speaker
1XCUP 2024: 20 teams to battle for N20m as competition kicks off August 5
Paris 2024 Olympic table tennis draw announced
