Business
Investors Lose N598bn As Large-Cap Stocks Decline
The Nigerian stock market declined by N598 billion at the end of last week as some large-cap stocks recorded price losses.
The NGX All-Share Index depreciated by 2.63 per cent to close the week at 42,167.91 basis points from 43,308.29bps while the market capitalisation of stocks fell to N22tn from N22.6tn.
All other indices finished lower with the exception of the NGX Insurance Index, which appreciated by 2.97 per cent, while the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.
A total turnover of 1.28 billion shares worth N17.34bn in 21,052 deals was traded last week by investors on the floor of the NGX, in contrast to a total of 3.44 billion shares valued at N30.92bn that exchanged hands in 21,109 deals the previous week.
Measured by volume, the financial services industry led the activity chart with 984.543 million shares valued at N10.25bn traded in 11,029 deals.
It contributed 77.01 per cent and 59.09 per cent to the total equity turnover volume and value respectively.
The consumer goods industry followed with 78.72 million shares worth N2.33bn in 3,137 deals, while the conglomerates industry had a turnover of 48.73 million shares worth N69.84m in 647 deals.
Investors and audacity of hope
Trading in the top three equities, namely FBN Holdings Plc, Guaranty Trust Holding Company Plc and Access Bank Plc, measured by volume, accounted for 470.73 million shares worth N6.57bn in 3,887 deals.
They contributed 36.82 per cent and 37.9 per cent to the total equity turnover volume and value respectively.
Eighteen equities appreciated in price during the week, lower than 29 in the previous week; 49 equities fell as against 36 in the previous week, while 89 equities remained unchanged as against 91 in the previous week.
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Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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