Business
Expert Predicts Rebound In Price Of Stocks
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.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Sports5 days ago
CAFCL : Rivers United Arrives DR Congo
-
Sports5 days ago
FIFA rankings: S’Eagles drop Position, remain sixth in Africa
-
Sports5 days ago
NPFL club name Iorfa new GM
-
Sports5 days ago
NNL abolishes playoffs for NPFL promotion
-
Sports5 days ago
NSF: Early preparations begin for 2026 National Sports Festival
-
Sports5 days ago
Kwara Hopeful To Host Confed Cup in Ilorin
-
Sports5 days ago
RSG Award Renovation Work At Yakubu Gowon Stadium
-
Politics5 days ago
Rivers Assembly Resumes Sitting After Six-Month Suspension