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A look back at events on the NSE during the week ended 28th June, 2019

Investors had reasons to smile home in the week that just went by. For one thing, it was a bright one for investment on the floor of the Nigerian Stock Exchange as the major indices closed in the positive.

Published

1 year ago

on

Nigerian Stock Exchange, NSE

Investors had reasons to smile home in the week that just went by. For one thing, it was a bright one for investment on the floor of the Nigerian Stock Exchange as the major indices closed in the positive.

The NSE All-Share Index and Market Capitalisation both went up by 0.39%. While the former closed at 29,966.87, the latter did at N13.206 trillion.

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The cheering development suggests that the weekly bullish momentum the market witnessed in the past couple of weeks was still sustained. It could then be said that there is a rise in investors’ confidence that the market is steadily returning to a sound financial footing.

Nigerian Stock exchange, Stock market

Altogether, 1.771 billion shares valued at N28.036 billion were traded. These transactions were done in as many as 18,660 deals. Relatively, 7.476 billion shares estimated at N91.107 billion at 17,192 deals were transacted the week before.

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[Also Read: Airtel Africa may consider dual listing on London and Nigeria Stock Exchanges]

Even though the volume traded two weeks ago was well above that of last week, the winning factor here was that the 18,660 deals of last week outweighed that of the week before, which closed at 17,192. Put differently, 18,660 deals chased 1.771 billion shares last week while only 17,192 chased N91.107 billion two weeks ago despite the huge volume recorded by the latter.

What you should know: The stock market uses deals to measure the demand for stocks. They represent the number of requests placed by investors on companies’ shares.

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The Activity Chart was led by the financial services industry. Here, 1.336 billion shares worth N17.894 billion exchanged hands in 8,783 deals. Interestingly, bank stocks constituted 75.44% of the turnover volume and 63.32% of the total value of the entire market.

[READ ALSO: Airtel Eyes a £3.6 billion IPO valuation on the LSE and NSE]

The Consumer Goods segment came second with 115.835 million shares in transactions worth N5.282 billion in 2,969 deals. Coming third last week, the Industrial Goods segment traded 90.705 million shares, put at N1.707 billion in 1,991 deals.

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Ellah Lakes appoints new Managing Director, Ellah Lakes appoints Chuka Mordi, Ellah Lakes acquires Telluria Limited, Nigerian Stock Exchange NSE

The Nigerian Stock Exchange building

Zenith Bank, GTB Plc, and Wema Bank Plc dominated transactions in the banking segment, collectively accounting for 840.903 million shares worth 15.266 billion in 2,938 deals.

Details of Index Performance: Apart from the All Share Index, all other indices improved save for the NSE Premium, NSE Insurance, NSE MERI Value, NSE AFR Bank Value, NSE AFR Div Yield and NSE Industrial Goods. However, the NSE ASem Index was largely stagnant.

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Major Development: That leading wireless provider Airtel Africa will list its shares on the Nigerian Stock Exchange in just three days time is good news for investors. That the company’s shares will be available to the general public that day (4th July 2019) is another. The reason is that the company’s shares are currently available to institutional investors alone, who have the financial muscle to buy the humongous minimum amount of shares the company is offering.

[READ ALSO: Why Airtel’s IPO is not for you]

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The high point of the book building process last week was the disclosure of the offer price of the Airtel’s stock which was put at N363. A total of 39,227,968 of the company’s shares are on offer in Nigeria at the pre-listing stage.

The company’s shares were listed Friday morning on the London Stock Exchange at 80 pence per unit.

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Ronald Adamolekun is a creative writer with proficiency in journalism, financial reporting, financial analysis and imaginative writing. However, his core competency lies in fiction and short story writing as well as feature writing. He is a graduate of English and Literature from Covenant University, Ota, Nigeria.

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Coronavirus

COVID-19 Update in Nigeria

On the 9th of July 2020, 499 new confirmed cases and 5 deaths were recorded in Nigeria.

Published

56 mins ago

on

July 10, 2020

By

The spread of novel Corona Virus Disease (COVID-19) in Nigeria continue to record significant increase as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 30,748 confirmed cases.

On the 9th of July 2020, 499 new confirmed cases and 5 deaths were recorded in Nigeria, having carried out a total daily test of 2,302 samples across the country.

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To date, 30,748 cases have been confirmed, 12,546 cases have been discharged and 689 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 171,931 tests have been carried out as of July 9th, 2020 compared to 169,629 tests a day earlier.

COVID-19 Case Updates- 9th July 2020,

  • Total Number of Cases – 30,748
  • Total Number Discharged – 12,546
  • Total Deaths – 689
  • Total Tests Carried out – 171,931

According to the NCDC, the 499 new cases were reported from 24 states- Lagos (157); Edo (59); Ondo (56); Oyo (31); Akwa Ibom (22); Borno (21); Plateau (19); Kaduna (18); Katsina (18); Bayelsa (17); FCT (17); Delta (14); Kano (11); Rivers (10); Enugu (8); Ogun (6); Kwara (4); Imo (3); Nasarawa (2); Osun (2); Abia (1); Ekiti (1); Niger (1); Yobe (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 11,827, followed by Abuja (2,365), Oyo (1,604), Edo (1,562), Delta (1,337), Kano (1,302), Rivers (1,294), Ogun (1,063),  Kaduna (907), Katsina (646), Ondo (606), Borno (584), Gombe (524), Bauchi (519), Ebonyi (503), Plateau (497), Enugu (439), Abia (401),  Imo (359), Jigawa (318).

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Kwara state has recorded 311 cases, Bayelsa (299), Nasarawa (236), Osun (212), Sokoto (153), Akwa Ibom (134), Niger (125), Benue (121), Adamawa (100), Anambra (93), Kebbi (86), Zamfara (76), Yobe (62), Ekiti (46), Taraba (27), while Kogi and Cross River state have recorded 5 cases each.

 

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

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Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020.

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READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

DateConfirmed caseNew casesTotal deathsNew deathsTotal recoveryActive casesCritical cases
July 9, 202030748499689512546175137
July 8, 2020302494606841512373171927
July 7, 2020297895036691512108170127
July 6, 202029286575654911828168047
July 5, 2020287115446451111665164017
July 4, 202028167603634611462160717
July 3, 2020275644546281211069158677
July 2, 2020271106266161310801156937
July 1, 2020264847906031310152157297
June 30, 202025694561590179746153587
June 29, 20202513356657389402151587
June 28, 20202486749056579007149957
June 27, 20202407777955848625148947
June 26, 20202329868455458253144917
June 25, 20202261459454977822142437
June 24, 20202202064954297613138657
June 23, 20202137145253387338135007
June 22, 20202091967552577109132857
June 21, 202020242436518126879128477
June 20, 202019808661506196718125847
June 19, 202019147667487126581120797
June 18, 20201848074547566307116987
June 17, 202017735587469145967112997
June 16, 202017148490455315623110707
June 15, 20201665857342445349108857
June 14, 202016085403420135220104457
June 13, 20201568250140785101101747
June 12, 20201518162739912489198917
June 11, 2020145546813875449496737
June 10, 20201387340938217435191407
June 9, 2020134646633654420688937
June 8, 2020128013153617404084007
June 7, 20201248626035412395981737
June 6, 2020122333893429382680657
June 5, 20201184432833310369678157
June 4, 2020115163503238353576467
June 3, 2020111663483151332975227
June 2, 20201081924131415323972667
June 1, 20201057841629912312271579
May 31, 20201016230728714300768687
May 30, 2020985555327312285667267
May 29, 202093023872612269763447
May 28, 202089151822595259260647
May 27, 202087333892545250159787
May 26, 2020834427624916238557107
May 25, 202080682292337231155247
May 24, 202078393132265226353607
May 23, 202075262652210217451317
May 22, 2020726124522110200750337
May 21, 2020701633921111190748987
May 20, 202066772842008184046377
May 19, 202064012261921173444757
May 18, 202061752161919164443407
May 17, 202059593881826159441837
May 16, 202056211761765147239737
May 15, 202054452881713132039544
May 14, 202051621931683118038154
May 13, 202049711841646107037374
May 12, 20204787146158695936704
May 11, 202046412421521090235894
May 10, 202043992481421777834794
May 9, 202041512391271174532784
May 8, 202039123861181067931154
May 7, 20203526381108460128184
May 6, 20203145195104553425071
May 5, 2020295014899548123704
May 4, 2020280224594641722912
May 3, 2020255817088240020702
May 2, 20202388220861735119522
May 1, 20202170238691035117512
April 30, 2020193220459731715562
April 29, 2020172819652730713692
April 28, 2020153219545425512322
April 27, 20201337644102559942
April 26, 20201273914152399942
April 25, 20201182873632229252
April 24, 202010951143312088552
April 23, 20209811083231977532
April 22, 2020873912931976482
April 21, 20207821172631975602
April 20, 2020665382311884662
April 19, 2020627862221704362
April 18, 2020541482021663562
April 17, 2020493511841593172
April 16, 2020442351311522772
April 15, 2020407341211282672
April 14, 202037330111992632
April 13, 202034320100912422
April 12, 20203235100852282
April 11, 202031813103702382
April 10, 20203051770582402
April 9, 20202881471512302
April 8, 20202742260442262
April 7, 20202541661442042
April 6, 2020238650351982
April 5, 20202321851331942
April 4, 2020214540251850
April 3, 20202092542251800
April 2, 20201841020201620
April 1, 2020174352091630
March 31, 202013982091280
March 30, 2020131202181210
March 29, 2020111221031070
March 28, 20208919103850
March 27, 2020705103660
March 26, 20206514102620
March 25, 2020517102480
March 24, 2020444102410
March 23, 20204010112370
March 22, 2020308002280
March 21, 20202210001210
March 20, 2020124001110
March 19, 20208000170
March 18, 20208500170
March 17, 20203100030
March 16, 20202000020
March 15, 20202000020
March 14, 20202000020
March 13, 20202000020
March 12, 20202000020
March 11, 20202000020
March 10, 20202000020
March 9, 20202100020
March 8, 20201000010
March 7, 20201000010
March 6, 20201000010
March 5, 20201000010
March 4, 20201000010
March 3, 20201000010
March 2, 20201000010
March 1, 20201000010
February 29, 20201000010
February 28, 20201100010

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Coronavirus

Former Liberian President to sit on WHO review panel of COVID-19 response effort

Ellen Sirleaf has been picked alongside Helen Clark, to serve as co-chairs of the independent panel.

Published

6 hours ago

on

July 9, 2020

By

Former Liberian President to sit on WHO review panel of Covid-19 response effort

Following stern criticism by US President, Donald Trump, over their handling of the COVID-19 response efforts, the World Health Organization (WHO) has announced it will implement an independent panel to review said response efforts to the pandemic.

To this end, Liberia’s former President and West Africa’s first female President, Ellen Johnson Sirleaf, has been picked alongside former Prime Minister of New Zealand, Helen Clark, to serve as co-chairs of the independent panel. They will be responsible for selecting the other members of the panel, according to the WHO.

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WHO’s Director-General, Tedros Adhanom, announced the panel will produce an interim report in a November meeting of global health ministers. Meanwhile, the substantive report would be produced by May 2021.

Tedros also said that the size of the pandemic calls for the need for a “commensurate evaluation, an honest evaluation”, adding that the WHO would be very serious with the preparation of the report.

READ MORE:COVID-19: WHO warns worst is yet to come as firm charges $2,340 for virus treatment

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The WHO members in May agreed to an independent review of the organization’s response to the pandemic. Ellen Johnson Sirleaf said the review of the body’s response would be challenging but looks forward to her role in doing what she can contribute to the response of the pandemic’s challenges.

The panel will also report monthly updates on the body’s response and will not only review the WHO’s response but also the International community’s response. Tedros added that it’s time for an honest reflection on the global response, saying a response will help with lessons on the pandemic.

 

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Economy & Politics

Presidency dismisses allegation of Osinbajo receiving N4 billion from recovered loots

The accusation was described to be an obvious campaign of lies and calumny.

Published

9 hours ago

on

July 9, 2020

By

Twitter deactivate Yemi Osinbajo's Twitter account, How Nigeria's LPG sector can create 2 million jobs -Osinbajo, budget support, NEC okays $250 million investment in NSIA , MSMEClinic gets 200,000 capacity yam storage facility in Benue, Accusations of Yemi Osinbajo receiving N4 Billion from recovered loots are baseless- Presidency

The office of the Vice President has reacted to a series of tweets accusing Professor Yemi Osinbajo of instructing the embattled acting Chairman of the EFCC, Ibrahim Magu, to release the sum of N4 billion out of N39 billion that was recovered from alleged looters. 

These allegations have been described as “false and baseless”. 

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READ ALSO: UPDATE: President Buhari appoints Prof. Gambari as new Chief of Staff

A statement that was signed by the Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, said, “with all emphasis at our disposal, let it be firmly stated that these are totally false and baseless fabrications purposing to reflect goings-on at the probe panel investigating Mr Ibrahim Magu”. 

Ibrahim Magu was relieved of his duties this week, after a probe was conducted on his activities as Acting Chairman of the nation’s anti-graft agency. He has since been replaced with Mohammed Umar. 

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READ MORE: Just In: DSS invites EFCC’s Acting Chairman, Ibrahim Magu for questioning)

Meanwhile, the statement by the Presidency also complained about the recent rise in people being paid to “peddle blatant falsehoods” against the Vice President and says Mr Osinbajo “will not be distracted by these obvious campaigns of lies and calumny”. 

The statement added that the online publications “being criminally defamatory in nature”  have been referred to law enforcement agencies for investigation. 

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Explore economic research data from Nairametrics on Nairalytics

 

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