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| Stock Market Down N1.17trn on Profit-taking in Dangote Cement, Others |
 The Nigerian stock market yesterday commenced the week on a downward momentum, with a decline of N1.17 trillion on investors’ profit-taking in Dangote Cement Plc (10 per cent drop) and 23 others.
The Nigerian Exchange Limited All Share Index (NGX ASI) lost by 1,853.82 basis points or 1.26 per cent to close at 145,159.77 basis points. Consequently, the NGX ASI Month-to-Date and Year-to-Date returns settled lower at -5.8per cent and +41.0per cent, respectively. Also, market capitalisation declined by N1.172 trillion to close at N 92.329 trillion. Sectoral performance was mixed as the NGX Industrial Goods index (-4.5 per cent), NGX Oil & Gas index (-1.2 per cent) and NGX Banking index (-one per cent) declined, while the NGX Insurance index (+0.1 per cent) advanced. The NGX NGX Consumer Goods index closed flat. Market sentiment remained balanced, as 28 advancing stocks narrowly outnumbered 24 decliners. Sovereign Trust Insurance recorded the highest price gain of 9.97 per cent to close at N3.20, per share. NCR Nigeria followed with a gain of 9.96 per cent to close at N28.15, while Tantalizers grew by 9.81 per cent to close at N2.35, per share. Prestige Assurance up by 9.70 per cent to close at N1.47, while Eunisell Interlinked rose by 8.52 per cent to close at N79.00, per share. On the other hand, Dangote Cement and Nigerian Enamelware led the losers’ chart by 10 per cent each to close at N534.60 and N40.50 respectively, while Transcorp followed with a decline of 4.66 per cent to close at N43.00, per share. Discover more Newspaper newspaper Daily AIICO Insurance depreciated by 4.11 per cent to close at N3.50, while Guinea Insurance declined by 3.97 per cent to close at N1.21, per share. Also, the total volume traded declined by 92.64 per cent to 388.177 billion units, valued at N31.143 billion, and exchanged in 28,492 deals. Transactions in the shares of Tantalizers topped the activity chart with 57.122 million shares valued at N134.237 million. Aradel Holdings followed with 30.427 million shares worth N21.496 billion, while Guaranty Trust Holding Company (GTCO) traded 21.781 million shares valued at N1.874 billion. Aso Savings & Loans traded 20.022 million shares valued at N21.653 million, while Sterling Financial Holdings sold 15.500 million shares worth N113.985 million. On market outlook, Imperial Asset Managers Limited said, “we anticipate a cautious and bearish tone to persist in the near term. Selective bargain-hunting in oversold stocks may occur, but the overall market direction is likely to remain defensive, with the index trading under pressure.” |
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PBAN laments yearly importation of 4.8 million tonnes of wheat •Says bakery closure increase food secu The Premium Breadmakers Association of Nigeria (PBAN) has raised fresh concerns over the country’s dependence on wheat imports, revealing that Nigeria brings in more than 4.8 million metric tonnes of wheat every year toThe post PBAN laments yearly importation of 4.8 million tonnes of wheat appeared first on The Guardian Nigeria News - Nigeria and World |
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NIMC issues 124m NINs as poor interagency relations stall data harmonisa The National Identity Management Commission (NIMC) had issued 124 million National Identity Numbers (NIN) to eligible Nigerians, including those in the diaspora, as of October. This was disclosed in Abuja by the Deputy Director/Head, Strategy and Programme Officer, NIMC, AlvanThe post NIMC issues 124m NINs as poor interagency relations stall data harmonisa appeared first on The Guardian Nigeria News - Nigeria and World |
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Tax reforms key to sustaining Nigeria’s economic resilience, says FIRS boss President Bola Tinubu’s bold tax reform initiatives are central to Nigeria’s strategy for economic resilience, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, has said. He made the statement during the maiden Distinguished Lecture SeriesThe post Tax reforms key to sustaining Nigeria’s economic resilience, says FIRS boss appeared first on The Guardian Nigeria News - Nigeria and World |
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CBN rate hike boosts fix income market —AIHN By Providence Ayanfeoluwa The Association of Issuing Houses of Nigeria, AIHN, has said that the Central Bank of Nigeria, CBN, aggressive interest rate hikes boosted investors’ demand for fixed income instruments in 2024. President of the association, Kemi Awodein, speaking during the AIHN’s Annual General Meeting and presentation of 2024 financial statements in Lagos, said […]The post CBN rate hike boosts fix income market —AIHN appeared first on Vanguard |
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Tax reforms key to strengthening Nigeria’s finances, says FIRS boss By Babajide Komolafe President Bola Tinubu’s bold tax reform initiatives are central to Nigeria’s strategy for economic resilience, Dr. Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service, FRSC, has said. Speaking at the maiden lecture series of the University of Ilesa, Osun State, Adedeji told academics, policymakers, students, and industry leaders at the […]The post Tax reforms key to strengthening Nigeria’s finances, says FIRS boss |
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Food inflation still going up but at slower speed •Highest in Ogun, lowest in Yobe By Elizabeth Adegbesan Contrary to the feelers in the public space hinting that prices of some food items are going down, the National Bureau of Statistics, NBS, has said that on the average, the prices were going higher in the month of October 2025 as against previous month of September. But […]The post Food inflation still going up but at slower speed appeared first on Vanguard |