Business
Bargain: NSE Indices Drop Further By 1.30%
Trading on the Nigerian Stock Exchange (NSE) resumed yesterday after the two-day holidays to mark Eid-el-Fitri on a bearish trend due to bargain hunting.
Our correspondent reports that the All-Share Index lost 401.22 points or 1.30 per cent to close at 30,527.07 compared with 30,928.29 on Monday.
Similarly, the market capitalisation shed N178 billion or 1.30 per cent to close at N13.444 trillion against N13.623 trillion.
The market performance was influenced by price depreciation in medium and large capitalised stocks, among which are, Guinness Nigeria, Guaranty Trust Bank, CI Leasing, Dangote Flour Mills and NEM Insurance.
Analysts at Afrinvest Limited noted that “Following the continuous bearish performance, our outlook remains unchanged as investors are still in search of economic stimulus to spur investment in equities.”
Also, analysts at APT Securities and Funds Limited said that “We anticipate a turnaround in a short while as market is expected to recover from the holiday spending.”
However, market breadth was positive with 23 gainers against 16 losers.
Julius Berger recorded the highest price gain of 9.90 per cent, to close at N21.65 per share.
Champion Breweries followed with a gain of 8.11 per cent, to close at N1.20, while Academy Press rose by 7.41 per cent to close at N29 per share.
Livestock Feeds gained by 6.78 per cent to close at 63k, while UACN rose by 5.60 per cent to close at N6.60 per share.
Conversely, Thomas Wyatt Nigeria led the losers’ chart by 10 per cent, to close at 36k per share.
Capital Oil came second with a decline 8.70 per cent to close at 21k, while Courteville Business Solutions declined by 8.33 per cent to close at 22k per share.
NEM Insurance declined by 8.07 per cent to close at N2.05, while Jaiz Bank down by 4.17 per cent, to close at 46k per share.
The total volume traded closed lower with an exchange of 217.33 million shares valued at N5.82 billion traded in 3,686 deals.
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.
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