Connect with us

Business

Expert Predicts Rebound In Price Of Stocks

Published

10 years ago

on

Chief Executive Officer, Foresight Securities and Investment Ltd, Mr.Charles Fakrogha on Wednesday predicted a gradual rebound in the prices of stocks.
Fakrogha told newsmen in Lagos that it was a natural phenomenon that prices of stocks could depreciate very low to a certain stage, before it would start rebounding.
According to him, the little appreciation noticed in the prices of stocks in the past two days was as a result of the decline in prices, which have started to rise.
He said that the appreciation of the stock prices would continue to be slow, until the electioneering period elapsed.
Fakrogha said that this would continue until the second quarter of the year when the capital market was expected to stabilise.
He said that the electioneering activities and the fall in the value of the naira and crude oil prices had made local and foreign investors to withdraw or sell-off their shares.
Fakrogha said that the situation had caused sell pressure in the market that had resulted to a fall in the prices of stocks.
“A significant appreciation in the prices of stocks is likely to be observed in the market in the second quarter, when the election might be over and the economy becomes generally stabilised,” he said.
Meanwhile, the market All-Share Index for the second consecutive day improved further by 128.21 points.
The Index rose by 0.43 per cent, to close at 29,907.66, in contrast to the 29,779.45 achieved on Tuesday.
The market capitalisation, which opened at N9.945 trillion, grew by N16 billion or 0.16 per cent, to close at N9.961 trillion.
Guinness topped the gainers’ table with N2.99, to close at N131.99 per share.
Forte Oil followed with a gain of N2.98, to close at N227.98, while Unilever gained N1 to close at N34.5 per share.
PZ Cussons appreciated by 75k, to close at N27, while Seplat rose by 51k to close at N301.51 per share.
Conversely, Wapco Lafarge topped the losers’ chart with a loss of 95k, to close at N81.05 per share.
Nigerian Breweries trailed with a loss of 89k to close at N144, while Flour Mill lost 8k to close at N39 per share.
Oando Oil depreciated by 28k to close at N15.6, while Redstarex declined by 18k to close at N3.44 per share.
Reports  say that a total volume of 242.760 million shares worth N3.670 billion were traded in 3,892 deals.
This was in contrast to the 468.181 million shares valued at N4.66 billion traded in 4,346 deals on Tuesday.
Access Bank emerged the most traded stock with 31.24 million shares worth N167.83 million.
It was followed by Unilever with 28.97 million shares valued at N1.01 billion, while Diamond Bank traded 27.13 million shares worth N107.66 million.

General Manager, EMS Nigeria, Mr Osadolar Eboigbodin (left) conferring with PHCCIMA Financial Secretary, Mr Prince A. Ogidigben, during PHCCIMA council meeting in Port Harcourt, recently. Photo: Nwiueh Donatus Ken

General Manager, EMS Nigeria, Mr Osadolar Eboigbodin (left) conferring with PHCCIMA Financial Secretary, Mr Prince A. Ogidigben, during PHCCIMA council meeting in Port Harcourt, recently. Photo: Nwiueh Donatus Ken

Related Topics:
Continue Reading

Business

NPA Assures On Staff Welfare 

Published

1 week ago

on

June 27, 2025

By

The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

ANLCA Chieftain Emerges FELCBA’s VP

Published

1 week ago

on

June 27, 2025

By

National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

NSC, Police Boost Partnership On Port Enforcement 

Published

1 week ago

on

June 27, 2025

By

In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
Continue Reading

Trending