Equity
NGX Closes Positive as Turnover Jumps 25%
Trading activity on the Nigerian Stock Exchange (NGX) closed on a positive note today with a total of 822,725,277 shares exchanged in 43,514 deals, corresponding to a market value of ₦24.93 billion. This represented a 3 percent improvement in volume and a 25 percent rise in turnover compared to Tuesday’s session, although the number of deals declined by 4 percent. The market capitalization currently stands at ₦106.5 trillion.
Out of 130 listed equities that participated in trading, 54 recorded gains while 24 closed in the red. NCR Nigeria led the gainers with a 10 percent appreciation, closing at ₦171.05 per share. McNichols and RT Briscoe also advanced by 10 percent each, while Jaiz Bank gained 9.99 percent. On the losing side, UPDC Real Estate Investment Trust shed 9.68 percent to close at ₦8.40 per share, followed by Champion Breweries which fell 9.31 percent. Secure Electronic Technology dropped 6.78 percent, while Coronation Insurance declined 6.69 percent.
In terms of trading volume, Zichis Agro Allied Industries dominated with 69.2 million shares, followed by Secure Electronic Technology with 54.8 million shares. Access Holdings recorded 40.1 million shares, while Zenith Bank posted 38.1 million shares.
The session reflected a generally upbeat market mood, with improved turnover and notable gains across several equities, despite a slight dip in the number of deals executed.
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NNPC completes OB3 pipeline River Niger crossing, boosts gas supply outlook
The Nigerian National Petroleum Company Limited has announced the successful completion of the River Niger crossing on the Obiafu-Obrikom-Oben gas pipeline, marking a major milestone in Nigeria’s gas infrastructure development and strengthening prospects for increased energy supply to industries and power plants. The development was executed by the NNPC Gas Infrastructure Company, a subsidiary of…
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Aviation union accuses AMCON of mismanaging Aero Contractors
The National Union of Air Transport Employees has accused the Asset Management Corporation of Nigeria of mismanaging Aero Contractors Company Limited, raising concerns over the airline’s operational stability and long-term survival. The union made the allegation in a statement signed by its National President, Nnabue Konye, where it criticised AMCON’s handling of the airline, warning…
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LCCI faults budget execution, warns against oil windfall spending
The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns over Nigeria’s fiscal management, warning that weak budget implementation and the Federal Government’s approach to rising oil revenues could undermine long-term economic sustainability. The chamber made its position known during its second quarterly press conference on the state of the economy held in Lagos,…