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Spotlight Stories

CHAMPION, NEIMETH rally high, Nigerian stock investors gain N128 billion

Nigerian stock bulls took the grasp of today’s trading session as the NSE Industrial Index, up by 1.74% due to gain in DANGCEM (+3.64%).

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Nigerian Stock Exchange

Nigerian Stocks ended the mid-week trading session on a bullish note. The All Share Index improved 0.63% to 38,931.25 index points. investors gained N127.87 billion.

  • Year-to-date return and market capitalization settled at -3.30% and N20.36 trillion, respectively. Investor sentiment as measured by the market breadth was flat with 23 gainers against 23 losers.
  • A total volume of 368.2 million units of shares, valued at N4.90 billion exchanged hands in 4,437 deals. CHAMPION (+8.91%) led the gainer’s chart today, while CHIPLC (-10.00%) was the top loser.

Top gainers

  • MORISON up 9.72% to close at N0.79
  • CHAMPION up 8.91% to close at N2.2
  • NEIMETH up 8.85% to close at N2.09
  • MBENEFIT up 7.69% to close at N0.42
  • NAHCO up 6.64% to close at N2.25

Top Losers

  1. CHIPLC down 10.00% to close at N0.27
  2. ETERNA down 9.94% to close at N4.62
  3. CONOIL down 9.79% to close at N17.05
  4. NNFM down 9.65% to close at N5.15
  5. LIVESTOCK down 9.57% to close at N1.7

Outlook

Nigerian Stock bulls took the grasp of today’s trading session as the NSE Industrial Index, Up by 1.74% due to gain in DANGCEM (+3.64%).

  • NSE Consumer Goods Index: Advanced by 0.40%, on buy-interests in CHAMPION (+8.91%), NESTLE (+1.85%) and NB (+1.01%).
  • Amidst such turnaround currently in play, Nairametrics envisages caution as recent price action reveals high selling pressures still prevail among a significant number of low and medium-capitalized stocks across the market spectrum.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Coronavirus

Covid-19: WHO approves China’s Sinopharm vaccine

WHO has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.

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Covid-19: First world nations oppose waiving intellectual rights for vaccine development

The World Health Organization (WHO) has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.  The vaccine is reported to have 79% efficacy against covid.

This was disclosed today in a report by Reuters. The vaccine would also be the second Chinese-made vaccine after Sinovac vaccine and would be the first developed outside Europe and North America to receive WHO accreditation.

“This expands the list of COVID-19 vaccines that COVAX can buy, and gives countries confidence to expedite their own regulatory approval, and to import and administer a vaccine,” WHO Director-General, Tedros Adhanom Ghebreyesus said.

The WHO added that the easy storage requirements make it highly suitable for low-resource settings.

“Its easy storage requirements make it highly suitable for low-resource settings,” a WHO statement said while also disclosing that the vaccine has been approved for people above the age of 18 to receive two shots.

“On the basis of all available evidence, WHO recommends the vaccine for adults 18 years and older, in a two-dose schedule with a spacing of three to four weeks,” the statement added.

The vaccine was created by Beijing Biological Products Institute, a subsidiary of Sinopharm subsidiary China National Biotec Group, with an efficacy of 79% for all age groups.

The WHO however, admitted that few older adults (over 60 years) were enrolled in clinical trials, so efficacy could not be estimated in this age group.

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The quest for vaccine efficiency got a major boost earlier this week as Nairametrics reported that the United States government announced that it supports the waiver of Intellectual Property Protections on Covid-19 vaccine development, in a bid to boost the fight against the pandemic, and says it will participate in the Okonjo-Iweala-led WTO negotiation to make it happen.

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Obituaries

“Mama Taraba”, Former minister and senator, Aisha Al-Hassan is dead

Ex-Women Affairs minister, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead

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A former Minister for Women Affairs and ex-Governorship Candidate in Taraba State, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead.

According to media reports she died in a hospital on Friday in Cairo, Egypt at the age of 61.

Al-Hassan, who was a former senator of the Federal Republic of Nigeria from Taraba North Senatorial District, was the All Progressive Congress (APC) Governorship Candidate for Taraba in the 2015 general elections.

READ: Abba Kyari’s last letter to President Buhari

She later contested for the same seat on the platform of the United Democratic Party in the 2019 general elections after resigning from APC and as a minister in the administration of President Muhammadu Buhari on July 27, 2018.

The former senator was born on the 16th of September, 1959 in Jalingo, Taraba State, to Alhaji Abubakar Ibrahim, Sarkin Ayukan Muri.

READ: Chad’s President Deby dies of injuries suffered on the frontlines, as son takes over

Aisha Jummai Al-Hassan attended Muhammed Nya Primary School, Jalingo and LEA Primary School, Tudun Wada, Kaduna before proceeding to Saint Faith College (now GGSS) Kawo Kaduna where she studied between January 1973 and June 1977.

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