CBN gives Airtel final approval to offer mobile money services
By Dipo Olowookere
There is currently renewed demand for Nigerian stocks and the reason for this is the impressive financial performance of companies listed on the Nigerian Exchange (NGX) Limited for the first quarter of 2022.
Statements already released have shown local stocks have prospects of delivering value to investors and have sparked strong demand for them, with traders literally lining up to buy stocks as if rushing Shoprite bread.
On Friday, on the market, the stock market appreciated a further 1.64%, causing the All-Share Index (ASI) to rise by 801.18 points to 49,638.94 points against 48,837.76 points, while the market capitalization increased from 432 billion naira to 26,761 billion naira. N26.329 billion.
According to trade data, NEM Insurance recorded the highest price increase as its value increased by 10.00% to N4.40, Academy Press improved by 9.70% to N1.47 , Cadbury Nigeria rose 9.63% to 10.25 N. , Champion Breweries rose 9.57% to 2.52 naira, while Julius Berger gained 9.35% to sell at 30, 40 naira.
On the other hand, NPF Microfinance Bank posted a loss of 10.00% to trade at N1.98, Trans-Nationwide Express was down 8.99% at 81 kobo, Eterna lost 7.38% to finish at N6.02, Cornerstone Insurance fell 4.84% to 59 kobo, while Dangote Sugar fell 4.42% to N16.20.
During the session, investors traded 6.4 billion shares worth 30.2 billion naira in 6,378 deals, and this was mainly boosted by an off-market sale of 6 billion of Honeywell Flour share units.
In the previous session, a total of 759.7 million shares worth N5.5 billion were traded in 5,032 transactions, indicating that the trading volume, value and number of transactions increased by 743.25%, 446.22% and 26.75% respectively.
A breakdown showed Honeywell Flour closed with 6.1 billion units worth N25.6 million, Transcorp sold 36.1 million shares worth N42.2 million , AIICO Insurance traded 27.1 million shares for 20.9 million naira, FCMB traded 22.1 million shares for 84.6 naira. million, while FBN Holdings traded 16.5 million shares for N197.0 million.
Business post reports that key market sectors rose yesterday with the insurance, consumer goods, industrial goods, energy and banking indices gaining 1.85%, 1.31%, 1.22% respectively, 0.68% and 0.17%.