Business
Market Indices, Volume Nosedive On NSE
Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday in red, with market indices losing 0.85 per cent and volume of shares dropping by 20.25 per cent.
The Tide source reports that major blue chips recorded price depreciation, with Dangote Cement topping the losers’ chart with N8 to close at N270 per share.
Forte Oil came second with a loss of N2.40 to close at N46.05, while Julius Berger was down by N1.35 to close at N28.65 per share.
Lafarge Wapco declined by N1 to close at N53, while Cadbury decreased by 50k to close at N15.50 per share.
Consequently, the All-Share Index dipped 378.27 points or 0.85 per cent to close at 44,261.72 compared with 44,639.99 achieved on Friday.
Similarly, the market capitalisation which opened at N16.019 trillion shed N136 billion or 0.85 per cent to close at N15.883 trillion.
Conversely, Betaglass led the gainers’ table during the day, gaining N3.10 to close at N65.45 per share.
Zenith International Bank followed with a gain of 70k to close at N32.65, while PZ industries appreciated by 55k to close at N23.65 per share.
Nigerian Breweries added 50k to N145, while Dangote Sugar grew by 35k to close at N21 per share.
Our source reports that the volume of shares traded dipped by 20.25 per cent as investors bought and sold 426.87 million shares valued at N2.77 billion in 5,741 deals.
This was in contrast with a turnover of 535.26 million shares worth N3.61 billion traded in 6,054 deals.
The financial services sector remained investors delight with FCMB Group emerging the most active stock in volume terms with 101.49 million shares valued at N303.32 million.
Skye Bank followed with an account of 48.34 million shares worth N66.37 million, while Diamond Bank exchanged 31.54 million shares valued at N100.21 million.
Transcorp sold 27.73 million shares worth N63.54 million, while AIICO Insurance transacted 27.63 million shares valued at N24.31 million.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.