Business
NSE Index Falls by 0.2%
The bullish run, which had persisted in the equities section of the Nigerian Stock Exchange since last week, came to an end on Thursday with major indicators losing marginally.
The market capitalisation of the listed shares fell by 0.2 per cent or N19bn from N9.109tn to close at N9.090tn on Thursday.
Similarly, the NSE’s All-Share Index dropped by 0.2 per cent or 59.82 basis points from 28,501.21 points on Wednesday’s close to 28,441.39 points.
The NSE-30 Index was down marginally by 0.1 per cent or 1.59 per cent to close at 1,355.64 points, down from 1,357.23 points recorded the previous day.
The NSE Consumer Goods Index and the Banking Index, on the other hand, recorded marginal appreciation, rising by 0.7 per cent and 1.8 per cent to close at 849.80 basis points and 356.89 points, respectively.
Analysts traced the marginal slide in activities to low bargain on the part of investors.
According to them, some investors were taking advantage of the appreciation recorded in the market in the past few trading days.
The banking sub-sector maintained its lead on the activity chart, accounting for 59 per cent of total turnover traded.
In the banking sub-sector, 170.21 million shares, valued at N1.346bn, were exchanged by investors in 2,142 transactions.
Trading in the shares of First City Monument Bank Plc drove the sub-sector’s turnover, accounting for 20 per cent of volume in the sub-sector.
Other companies that recorded high turnover in the sub-sector are Diamond Bank Plc, Skye Bank Plc, Fidelity Bank Plc and Zenith Bank Plc.
FCMB Plc emerged the highest price gainer at the close of activities, rising by 9.7 per cent or 40 kobo to close at N4.50 per share.
Aiico Insurance Plc gained 6.45 per cent or four kobo to close at 66 kobo per share.
SkyeBank and Fidson Plc followed on the chart, rising by 5.7 per cent and 5.6 per cent to close at N5 and N1.14 per share, respectively.
Diamond Bank, on the other hand, lost the highest, shedding 5.5 per cent or 30 kobo to close at N5.1$0 per share.
John Holt Plc and Cutix Plc fell by 4.9 per cent and 4.6 per cent to close at N3.07 and N1.46 per share in that order.
“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.