NEWS
Equity Investors Gain N46bn
Sustained interest in banking stocks on Tuesday further added N46 billion profit to the portfolios of investors.
Specifically, gains in Access Corporation, Guaranty Trust Holding Company(GTCO), Stanbic IBTC, FCMB Group, Sterling Nigeria, among other advanced equities, drove the market to a positive terrain.
Consequently, the market capitalisation gained N46 billion or 0.
08 per cent from an opening of N55. 601 trillion, to close at N55.647 trillion.The All-Share Index also advanced by 0.08 per cent or 80 points to close at 96,873.74 points in contrast to 96,793.95 points reported on Monday.
As a result, the Year-To-Date return increased by 29.56 per cent.
However, market breadth closed slightly negative with 30 losers and 29 gainers on the floor of the Exchange.
RT Briscoe led the gainers table by 10 per cent to close at N2.88, Abbey Mortgage Bank trailed by 9.96 per cent to close at N2.53 per share.
Secure Electronic Technology also lost 9.72 per cent to close at 65k, McNichols shed 9.68 per cent to close at N1.40, while Tantalizers decreased by 9.23 per cent to close at 59k per share.
Conversely, Industrial Medical Gas, C&I Leasing, and Guinea Insurance led the gainers’ table by 10 per cent each to close at N31.90, N4.07and 55k per share respectively.
Eterna Plc also advanced by 9.90 per cent to close at N32.20 per share, while E-transact rose by 9.82 per cent to close N6.15 per share.
Analysis of the market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 5.67 per cent.
A total of 473 million shares valued at N10.41 billion were exchanged in 12,532 deals, compared to 498.12 million shares valued at N11.04 billion traded in 13,149 deals posted in the previous session.
On the activity chart, Access Corporation led in volume with 106.28 million shares worth N2.04 billion, Oando followed with N46.92 million shares valued at N4.32 billion to lead the chart in value.
Prestige sold 31.74 million shares worth N16.60 million, United Bank For Africa (UBA) transacted 20.18 million shares valued at N486.80 million.
Transnational Corporation also traded 17.75 million shares worth N194.33 million.(NAN)
The Nigeria Customs Service (NCS), Federal Operations Unit Zone C, says it intercepted contrabands with a Duty Paid Value (DPV) of N510.92 million between July 15th and September 15th, 2024.The zone covers the six states in the South-South geopolitical zone and the five states in the Southeast geopolitical zone.
This is contained in a statement signed by Jerry Attah, Public Relations Officer, NCS, Zone C, and made available to journalists on Wednesday. According to the statement, Comptroller Michael Ugbagu, NCS, Zone C, gave the statistics while showcasing the seized contraband to relevant regulatory agencies at the Government Warehouse in Edo.Ugbagu said that the zone also recovered the sum of N25.57 million from demand notices raised based on some infractions noticed, making a cumulative sum of N536.49 million recorded within the months under review.“The DPV was derived from our seized goods, which include 49,699 sachets of various brands of tramadol and 3,350 bottles of various cough syrups with codeine without an NAFDAC number.“1,015 sacks of dry donkey meat and skin, 75 jumbo bales of second-hand clothing, 463 cartons of foreign spaghetti, 269 pieces of used pneumatic tires, and 56 cartons of smuggled foreign tomato paste.“More worrisome is the interception of 49,699 sachets of various brands of tramadol and 3,350 bottles of various cough syrups with codeine without NAFDAC registration numbers.”He noted that the cough syrup with codeine and tramadol without NAFDAC registration numbers, if not intercepted, could have had adverse effects on youths.He added that the items were mostly intercepted along the Ewu-Okada/Benin expressways based on credible intelligence. (NAN)
The Forum of Stakeholders of the All Progressive Congress (APC) has decried the deplorable condition of some federal roads in Nigeria. Alhaji Saleh Zazzaga, the North-Central Chairman of the forum, said this in an interaction with newsmen on Wednesday in Jos. Zazzaga described some of the federal roads as ”death traps”, particularly those within the north-central region.
He said that some of the deplorable roads in the region include Jos-Akwanga, Makurdi-Oturkpo-Otukpa, Makurdi-Ankpa, and Jos-Saminaka. Other roads that needed urgent attention, he said, included Suleja-Minna, Ejule-Otukpa, Ganawuri-Manchok, Lokoja-Abuja, Lapai-Agaie-Bida, Birnin-Gwari-Bokani-Mokwa, Minna-Zungeru-Tegina-Kontagora. ”Currently, the north-central region has the most deplorable roads and highways in the country. ”These deplorable roads have brought severe hardship on the people and lost lives and property through preventable road traffic crashes. ”We call on President Bola Tinubu to intervene and ensure the rehabilitation of these roads because good roads are vital enablers of development,” he said. The chairman also called on governors of states within the region to reconstruct the dilapidated roads and seek refunds from the federal government. ”Though these are largely federal roads, they are located within states, and the beneficiaries are the people of these states. ”So we call on state governments to reconstruct these roads and seek refunds from the federal government,” he added. (NAN
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 160 pips to 7.087 against the dollar on Wednesday.This is according to the China Foreign Exchange Trade System.In China’s spot foreigners exchange market, the yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
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