Wednesday, September 22, 2021
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    Nigerian Equity Market Kick Starts Ember Months in Red, as Investors’ Wealth Shed 0.09%

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Today, the Nigeria stock market nosedived to kick start the ember months in red as investors’ wealth dipped by 0.09 percent.

    The bearish sentiment was experienced in all five major market indices, save for the Industrial Goods that remain unchanged.

    Accordingly, the All-Share Index shed 35.43bps, representing a 0.09 percent dip to close at 39,184.18. While the Market Capitalization lost ₦18.46bn, representing a decline of 0.09 percent to close at ₦20.42 trillion.

    → Similarly, market activities were bearish, as the total volume and value traded depreciated by 60.23 percent and 27.60 percent, respectively.

    A total of 169.30 million units of shares valued at ₦1.42 billion were traded in 3.449 deals.

    TRANSCORP sustained its led on the volume chart, accounting for 16.86 percent of the total volume of trades, followed by ZENITHBANK (9.80%), HONYFLOUR (7.82%), UCAP (7.56%), and MBENEFIT (4.92%) to complete the top five on the volume chart.

    ZENITHBANK also remain the most traded stock in terms of value, with 27.96 percent of the total value of trade on the exchange.

    → AIICO topped the gainers’ table with price appreciation of 4.04 percent, followed closely by CUSTODIAN (3.15%), FIDSON (2.80%), LIVESTOCKS (0.95%), STERLNBANK (0.66%), GTCO (0.37%) and four others. On the other hand, FTNCOCOA topped the decliners’ table as its share price declined by 9.77 percent to close at ₦0.52, as WEMABANK (-4.65%), HONYFLOUR (-4.21%), NB (-2.93%), UACN (-1.82%), ACCESS (-1.10%), FBNH (-0.67%) and DANGSUGAR (-0.56%) amongst others also decline in price, as the market breadth closed negatively with 9 gainers as against 17 losers.

    → The bearish sentiments in recent days has created more investment opportunities, as such, we expect the market to upturn the negative performance in the next session.

    Previous articleEnergy Security: Tshisekedi lauds Sahara Group, urges robust collaboration in Africa President Félix Tshisekedi of the Democratic Republic of Congo has commended Sahara Group’s leading role in spearheading enhanced intra-African trade, capacity development, seamless access to products, and deployment of innovative solutions to boost Africa’s march towards energy security. Describing Sahara Group as a “shining light for Africa” in terms of providing global energy solutions, Tshisekedi said more cooperation between African nations and businesses would enhance the continent’s lobal competitiveness, and ultimately stimulate sustainable development in Africa. Tshisekedi who addressed the Board of the Sahara Group virtually as part of events to mark Sahara’s 25th anniversary recently, said Africa has a huge potential in the energy sector, adding, “we have what it takes to transform Africa for the benefit of all Africans.” He said: “It is an honour to join Sahara Group to celebrate its 25th anniversary. The Democratic Republic of Congo is a country with enormous potential, and we are happy to play an important role in the transformation of Africa, working alongside companies like Sahara Group and other African countries.” Executive Director, Sahara Group, Kola Adesina said the energy conglomerate was delighted at the support it continues to receive from the DRC, noting that Sahara remained confident of the ability of Africans taking the driver’s seat in delivering a transformed, economically viable and globally competitive Africa.” “Our journey over these past 25 years shows that all it takes is for all stakeholders working together in the best interest of Africa, selflessly and committedly. Sahara started out as an oil trading entity and now we are operating with almost 5,000 employees in Africa, Asia, Europe, and the Middle East. We are proud of our African heritage, and we assure Your Excellency of our commitment to working with him to achieve his aspirations as Chairperson of the Africa Union,” he added. Adesina commended President Tshisekedi for making energy security and investment its top priority, as well as propelling massive hydropower projects to diversify the country’s energy mix to create jobs and grow the economy.
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