Business
NSE: Market Indicators Differ As Capitalisation Crashes
The performances of market indicators yesterday on the floor of the Nigerian Stock Exchange (NSE) differs as market capitalisation crashed.
Although the volume and value of traded equities appreciated, market capitalisation however showed a downward movement to end Thursday’s trading on a negative note.
Specifically, market closed at 25,343.02 points with market capitalisation at N6.16 trillion in contrast to N6.78 trillion traded the previous day.
At the end of trading investors traded a total of 411,910,143 shares worth N2.91 billion in 5,685 deals, compared to 314,364,568 shares valued at N2.38 billion which exchange hands in 6,025 deals.
The volume of traded equities went up by 97,545,575 shares or 31 percent from 314,364,568 shares to close higher at 411,910,143 shares.
Also, the value of shares traded appreciated by N523 million or 22 percent from N2.4 billion, to close higher at N2.9 billion.
The banking sub-sector was the most active after trading 237,820,227 shares worth N2 billion in 3,129 deals compared to 149,461,742 shares worth N14 billion which exchanged hands in 3,134 deals.
The sub-sector’s performance was boosted by the transactions of Access Bank, First Bank, IBTC and SkyeBank.
Gainers chart was led by Dangflour after making N0.70 gain while WAPCO lost N1.50 to lead the losers chart.
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
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