Business
Stock Market Records Mixed Performance
The Nigerian Stock Exchange (NSE) recorded mixed performance in the first half of 2012.
The mixed performance of the Nigerian bourse in the six months was due to unfulfilled dreams of investors about market rebound and on promises of intervention by the Federal Government.
But in spite of the low morale of stakeholders, some investors took positions in the market by purchasing 46.05 billion shares worth N315.76 billion in 448,437 deals.
This was against the 50.66 billion shares valued at N369.71 billion exchanged in 735,515 deals in the corresponding period in 2011.
Our correspondent reports that the overall market performance in terms of volume, value and number of deals, however, dipped by 9.09 per cent, 14.6 per cent and 39.03 per cent, respectively.
Even with the poor performance of the Exchange in terms of volume of traded shares value and deals, the NSE market indicators closed on positive note.
Specifically, the All-Share Index appreciated by 868.94 points or 4.2 per cent to close at 21,599.57 from the year’s opening index of 20,730.63.
The market capitalisation also rose by N363 billion or 5.6 per cent to close at N6.895 trillion in the period, compared with N6.532 trillion at the opening of the year.
The index appreciated by 209.68 points or 0.85 per cent in the first half of 2011, while the market capitalisation grew by N74 billion or 0.94 per cent.
Market analysts attributed the growth of the market indices to positive results posted by some quoted companies.
They, however, said that the current fall in the price of crude oil could depress prices of equities in the second half of the year.
Chairman, Association of Stockbroking House Owners of Nigeria (ASHON), Mr Emeka Madubuike, said that the dwindling oil prices would put pressure on the equities market in the months ahead.
Madubuike said that the Euro zone crisis, the lingering security challenges and uncertainties in Nigerian economy could further depress the stock market.
He said that the poor liquidity and low investor confidence were other impediments affecting portfolio investment in the country.
Mr Okechukwu Unegbu, the Chief Executive Officer of Maxifund and Securities Ltd., said that the market performance in the second half of the year would depend on the outcome of the capital market probe.
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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