Business

Investors’ Sentiment Boosts Trading On NSE

Published

13 years ago

July 17, 2013

The improved inves
tors’ sentiment on the floor of the Nigerian Stock Exchange (NSE) resulting to the market ending in the green last week surged the twin market indicators, the All Share Index (ASI) and the aggregate market capitalization of listed equities surged by 1.24 per cent each.
Specifically, the ASI closed the week at 37,382.49 basis points from an index-on-board of 36,926.29 basis points even as the market capitalisation of listed equities increased from the week’s opening value of N11.694 trillion to N11.839 trillion.
The NSE 30 index which tracks the most capitalised stocks on the Nigerian bourse appreciated by 1.05 per cent to finish at 1,758.73 points.
Also four of the NSE indices were in the green during the review week as the NSE Consumer Goods rose by 0.75 per cent, NSE Banking 1.34 per cent, NSE Insurance 0.37 percent and the NSE Industrial goods 3.34 per cent.
However, the NSE Oil/Gas, NSE-Lotus I and the NSE-ASeM nose dived by 0.14 per cent, 0.02 percent and 0.57 per cent, respectively.
A closer look at the market revealed it rebounded last week as the bulls took charge of the market for three days running resulting to a 2.18 per cent appreciation pushing the value-based index that tracks all equities to hover between 35,832 points and 36,952 points.
The week opened on Monday of the review week on a negativenote, as the NSE ASI fell by 0.37 per cent to close at 36,796.14 basis points having opened at 36,926.29 basis points the previous week while cumulative market capitalisation of listed equities dropped by N44 billion to close at N11.650.87 trillion compared with N11.694.95 trillion the previous week.
The second trading in the week under review saw the benchmark index rising by 0.61 per cent which caused the index to finish at 37,014.14 basis points even as the market capitalisation stood at N11.56 trillion.
The overall market volume traded on the same day increased by 53.4 per cent just as increased by 53.4 per cent just as the value grew by 50.8 per cent.
In all, a total of 289.25 million units of shares valued at N324 billion were exchanged by investors in 5,081 deals.
The positive note continued on Wednesday with the NSE ASI soaring by 0.31 percent to finish at 37,128.40 basis points while market capitalisation of listed equities added N36 billion to close at N11,758.27 trillion from an on-board-value of N11.722.08 billion.
The market, last Wednesday recorded a traded volume of 213.24 million units of shares worth N3.22 billion exchanging hands in 5,815 transactions down from 289.25 million units of shares valued at N3.24 billion traded in 5,419 deals the previous day.
The bulls sustained their hold in the equity market of the Nigerian bourse on Thursday with the bench mark index adding 199.26 points to end at 37,327.66 basis points as 34 stocks recorded price appreciation while 16 lost in their value.
The last trading day of the week under review saw the market finishing on a strong note as the bench mark index went up by 0.15 per cent to stand at 37,382.49 basis points while the aggregate market capitalisation of listed equities rose to N11.72 trillion.
A traded volume of 245.96 million units of shares valued at N2.94 billion were recorded at the close business on the Exchange on Friday.
The overall turnover volume during the review week stood at 1.674 billion units of shares valued at N18.266 billion exchanged by investors in 25.367 trades as against a total of 3.478 billion units of shares worth N14.902 billion that exchanged hands the previous week in 24,576 trades.
In volume terms according to the NSE weekly data, the financial services sector topped the sectorial activity chart with 1.306 billion units of shares worth N11.630 billion exchanged by investors in 13,565 trades.
The Banking subsector of the financial services sector was the most active in volume terms during the review week. Activities in the shares of United Bank for Africa Plc, Guaranty Trust Bank Plc and Access Bank Plc drove the volume in the subsector as they accounted for 735.184 million units of shares representing 77.68 per cent and 43.91 per cent of the turnover volume recorded by the subsector and the overall market turnover during the week under review respectively.
The Conglomerates sector emerged second on the week’s activity chart having a turnover of 101.851 million units of shares at the cost of N278.921 million in 1,077 trades.
Activities in the shares of Transnational Corporation of Nigeria Plc drove the volume in the sector as 98.150 million units of its shares were traded by investors in 727 transaction at the value of N137.029 million.
At the over-the-counter bond market, a total of 4,100 units of FGN bonds worth N443,665 were traded in 18 transactions as against 900 units at the value of N100,126 recorded in 19 trades the preceding week.
On the Price Movement chart, 37 stocks appreciate in their value during the week in contrast to 44 shares which recorded price appreciation the previous week.
A total of forty-seven shares dipped in their value compared with 36 shares that plunged in their value the previous week.
Mobil Oil Nigeria Plc vanguard the top 10 bulls with N10.71, Julius Berger Nigeria Plc N5.02, UACN Plc N4.00, Ecobank Transnational Incorporated N1.11, Beta Glass Company Plc N1.00.
Other top 10 price gainers for the week include IPWA Plc 19 kobo, HIS Plc 60 kobo, Ikeja Hotel Plc 7 kobo, National Salt Company of Nigeria Plc 91 kobo and Dangote Sugar Refinery Plc 84 kobo.
On the downside, the top 10 losers were Glaxo Smthkline N12.73, Costain West Africa Plc 24 kobo, Smart Product Nigeria Plc 20 kobo, Coulterville Business Solution Plc 18 kobo, NPF Microfinance Bank Plc 12 Kobo, Trans-Nationwide Express Plc 25 kobo, Vono Product Plc 17 kobo, Chellarams Plc 48 kobo, Thomas Wyatt Nigeria Plc 11 kobo and Transnational Corporation of Nigeria Plc 16 kobo.

Business

Nigeria’s Inflation Drops to 15.06%

Published

18 hours ago

March 23, 2026

The Tide

Three States Record Lowest rates Published 16 Mar 2026 By Dave Ibemere 3 min read The NBS has revealed that inflation rates dropped again in February 2026 The bureau noted that both headline and food inflation eased on a year-on-year basis Inflation was lowest in Katsina, Imo, and Ebonyi, while the highest was recorded in Kogi.

Nigerian economy, the stock market, and broader market trends. The National Bureau of Statistics (NBS) has revealed that Nigeria’s inflation rate slowed further in February 2026. According to the bureau in its latest CPI report, the headline inflation dropped slightly to 15.06% from 15.10% in January 2026. Nigeria’s inflation eases to 15%, offering relief to households. It was 11.21 percentage points lower than the 26.27% recorded in February 2025. From breaking news to viral moments. On a month-on-month basis, inflation stood at 2.01% in February, up from -2.88% in January, showing that prices rose at a faster pace than the previous month. Nigerian stock market records weekly gain as turnover hits N164.8billion Urban vs Rural Inflation NBS noted that urban inflation stood at 15.53% year-on-year, down from 28.49% in February 2025, while rural inflation was 13.93%, compared with 22.73% in the same period last year. Every month, urban inflation rose to 2.55% in February from 2.72% in January, while rural inflation eased to 0.71% from -3.29%. Food Inflation Food inflation dropped to 12.12% year-on-year in February, down sharply from 26.98% in February 2025. Monthly, food prices rose by 4.69%, higher than the -6.02% recorded in January. The NBS attributed the moderation to slower price increases in staples such as beans, cassava tuber, yam flour, crayfish, millet flour, cowpeas, and okazi leaf. The twelve-month average for food inflation was 19.08%, compared with 37.40% in February 2025. States breakdown for All Items The states with the highest all-items inflation rates were: Kogi (23.57%) Benue (22.85%) Anambra (22.09%) The lowest rates were recorded in: READ ALSO Naira appreciates by N27 against US dollar as external reserves cross $50bn Katsina (7.78%) Imo (11.66%) Ebonyi (11.71%) On a month-on-month basis, the highest increases were in Enugu (5.92%), Ogun (4.39%), and Anambra (4.11%), while declines were seen in Zamfara (-2.14%), Bauchi (-1.23%), and Katsina (-1.06%). Food staples contribute less to inflation as prices moderate in February. Photo: Bloomberg Source: Getty Images State Breakdown for Food Inflation Food inflation was highest in: Kogi (26.91%) Adamawa (23.12%) Benue (21.89%) The lowest food inflation rates were seen in: Katsina (5.09%) Bauchi (7.09%) Imo (7.65%) Month-on-Month Food Inflation The states with the highest month-on-month increases in food inflation were: Bayelsa (8.81%) Ebonyi (8.51%) Edo (7.72%) The states that recorded declines were: Katsina (-0.70%) Nasarawa (0.17%) Kano (1.39%) Food price changes across markets in Nigeria Earlier, The Tide source reported that due to Ramadan, staple food prices across the country are recording sharp increases as Muslims begin the Ramadan fasting season Ramadan is not only a period of abstinence from food and drink, but also a time for ‘reflection, discipline and heightened devotion’ Several traders in Abuja, Taraba, and Kaduna states are taking advantage and have hiked price. The NBS has revealed that inflation rates dropped again in February 2026 The bureau noted that both headline and food inflation eased on a year-on-year basis Inflation was lowest in Katsina, Imo, and Ebonyi, while the highest was recorded in Kogi.

Business

NDCCTMA, NDDC MDS Challenge Niger Delta Indigenes On Investment In The Region

Published

18 hours ago

March 23, 2026

The Tide

The Nigeria Delta Chamber of Commerce, Trade, Mines and Agriculture (NDCCTMA), and the Niger Delta Development Commission ( NDDC ) have challenged Niger Delta entrepreneurs to close the gap in Gross Domestic Products (GDP) differences between the region and that of the South Western part of the country by coming home to invest.

The bodies made the call at a Business Round Table organized by NDDCTMA, in Port Harcourt.

Chairman of NDDCTMA, Ambassador Idaere Gogo Ogan, said to close the gap between the south west region which he said has a GDP seize of about #59 trillion and that of the Niger Delta which is about #34 trillion was to massively invest in the region.

He said no other persons can do this except sons and daughters from the region.

“For me I believe in statistics,I believe in data and everyday I looked at the data concerning development in Nigeria and from the GDP point of view, the South West has #59 trillion, that is the seize of the south west region economy, the second region following them is the Niger Delta region with GDP seize of #34 trillion,so there is a yearning gap of #25 trillion that separates the south west and the Niger Delta region, that is why we are here.”

Ogan said the region has the capacity to close the gap and even surpassed it but regretted that indigenes of the region have chosen to ignore it in terms of investment.

“We need to close that gap .If we close that gap and even surpassed it,all the negative problems of militancy and unemployment will automatically erase”, he stated.

Ogan noted that the event was organized to remind the people that past efforts of militancy and agitations have not led the region to any where saying “that is why we are gathered here in this room”.

Also speaking, the Managing Director/Chief Executive Officer, NDDC, Dr Samuel Ogbuku urged indigenes of the region not to use the problem of insecurity as an excuse to continue to deny the region of investment as every part of the country have in one time or the other experienced crisis.

Ogbuku said most indigenes have displayed high level of unpatriotism towards the region by taking investments that would have benefited the people to either Lagos or Abuja.

“With little threat we have left the city, we have gone to Lagos,we have moved our families to Abuja and Lagos. If you go round GRA all the property, you will see,”to let to let”most of them are now empty “he said.

The NDDC MD said despite the fact that people from the region are doing well in the oil and gas, banking and other sectors, its impact are not being felt at home because they are stationed outside the region.

By; John Bibor

Business

Cash Handouts Unproductive For Sustainable Agricultural Development – Engineer Kii

Published

19 hours ago

March 23, 2026

The Tide

Rivers State by its natural disposition is gifted with strategic economic advantage, particularly in agricultural potentials and fortunes. This informs successive governments’ interest in developing the agricultural sector, such as the School to Land Program, the Shongai Project, among several others.

The objective is to engender and leverage the sector beyond mere subsistence practices into a full thriving economy, with the engagement and involvement of the youthful and productive population.

The Farm to Future Agro Based Training for Rivers youths by the present administration is notably one of the most pragmatic efforts of the Rivers State Government to engage the prospective creative capital of both the natural and human resources in the agricultural sector for sustainable development.

The concept, premised on the imperative of maximizing the huge agrarian prowess of the state, targets creation of sustainable livelihood for the teeming youth of the state. The project is also intended to achieve the chore needs of food sufficiency and job creation in the state.

This implies a significant deviation from the acculturised norm of expectations of financial benefits as the outcome of government programs and policies.

The tenets of the program are expressly difined in concept and practice as shown in the phases of its execution.

However, some beneficiaries of the project recently staged a protest, allegdging unpaid largesse, diversion of funds and perceived slighting by the Rivers State Ministry of agriculture. The said protest has stirred up concerns among stakeholders about how people view government policies.

Many see the protest as an attempt to create tension around the program and sabotage its original objectives.

Stakeholders and commentators are of the view that the Rivers State is in dire need of development in every critical sector, as such the Ministry of Agriculture and its partners should be given the benefit of the doubt to implement the project to its logical conclusion without being hauled with accusations.

The former Commissioner for Agriculture, Engineer Victor Kii who was at the fore of driving the program has in a press statement debunked the allegations and sued for calm, restraint and understanding. Engineer Kii assured the participants that the empowerment phase will be implemented as soon as administrative normalcy is restored.

He commended the participants for their commitment and discipline during the training and urged them to uphold the norms of the program rather than misrepresenting its intentions.

Some pundits who commented on the recent development decried the fact that many people still hold on to the notion that incentives billed to create sustainable impact through skills based programs, should be given out as largess, without adroit supervision of its utility function. This practice has however created a culture of economic doldrum, dependency and servitude in the past.

Thus the idea of seen the Rivers Farm to Future project as a mere quixotic experiment for cash benefits without achieving set goals is counter productive. Such opportunistic thinking have stunted government efforts over the years in achieving long term objectives of development.

As disclosed by the former commissioner for Agriculture in his detailed explanation, the Farm to Future project was strategically designed to address this culpable deficit in institutional planning and consolidation of results.

The former commissioner gave an explicit description of the nexus of operation of the program.

As revealed by him; ” The program is a strategic intervention to equip young people in Rivers with practical skills and to nurture a new generation of agricultural entrepreneurs. 500 beneficiaries received intensive agri business training in the first phase.”

He pointed out that the program was conceived and designed in line with global best practices which de emphasizes indiscriminate cash handouts for beneficiaries. Rather it promotes practical engagements in agricultural activities and business initiatives.

At the end of the training in February, beneficiaries were encouraged either individually or in cooperative clusters to identify value chain for establishment of viable businesses.

They were also asked to produce structured business proposals for perusal and review by the ministry of agriculture and appointed consultants, after which successful proposals would be forwarded to the Bank of Agriculture with Rivers State Government providing guarantees.

The strategies for implementation include field inspections and evaluation for beneficiaries who had already commenced practical activities in identified locations.

The approach was to discourage the commonplace ideology of diverting funds meant for specific projects for unrelated purposes, thereby undermining the conscious exploration of creative potentials into long term benefits.

The process was however temporary interrupted by the dissolution of the Rivers State Executive Council and the ongoing renovation of the Rivers State Secretariat complex but the profound optimism and positive expectations that are the hallmark of the project remains sacrosanct.

Engineer Kii assures.

By: Beemene Taneh