NEWS
Stock Market Ends Week Negative, Index Sheds 0.21%
The stock market closed the week on a bearish note, as key performance indicators dipped by 0.21 per cent on Friday amid selling pressure.
Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation declined by N141 billion, or 0.21per cent, to N65.706 trillion from N65.
847 trillion recorded on Thursday.The All-Share Index also dropped by 0.
21 per cent or 224. 91 points to close at 104,563.34, down from 104,788.25 posted on Thursday.The decline was largely attributed to sell-offs in heavyweight stocks such as MTN Nigeria, Oando and other medum capitalised equities.
However, the market breadth closed positive with 36 stocks advancing against 20 decliners.
On the gainers’ chart, Caverton Offshore Support Group increased by 9.96 per cent to close at N2.54 while VFD Group soared by 9.90 per cent to close at N87.70 per share.
ABBEY Mortgage Bank gained by 9.86 per cent to close at N6.13 and FTN Cocoa Processors rose by 9.83 per cent to close at N1.90 per share.
Also, Regency Alliance Insurance grew by 9.43 per cent to close at 58k per share.
On the losers’ chart, Deap Capital Management declined by 9.71 per cent to close at 93k while Royal Exchange dropped by 9.09 per cent to close at 80k per share.
Sovereign Trust Insurance fell by 7.61 per cent to close at 85k and Guinea Insurance declined by 7.35 per cent to close at 63k per share.
Similarly, Oando Plc lost by 5.57 per cent to close at N39.00 per share.
A total of 379.95 million shares worth N10.10 billion were exchanged across 10,791 transactions.
This is compared to 432.56 million shares worth N9.719 billion that was exchanged across 12,027 transactions earlier recorded.
Transactions in the shares of Access Corporation topped the activity chart with 73.220 million shares worth N1.505 billion.
This is followed by Zenith Bank with 33.35 million shares valued at N1.647 billion while CUTIX sold 29.66 million shares worth N63 million.
Guaranty Trust Holding Company transacted 25.68 million shares valued at 1.731 billion and Fidelity Bank traded 19.65 million shares worth N374 million.
Mr Aruna Kebira, a stockbroker with Global View Capital Ltd., explained that the market’s decline followed a brief rebound from earlier losses.
Also reacting to the market performance, Mrs Eyitola Adu, Director, Morgan Capital Securities Ltd., noted that several stocks were beginning to rebound from previous declines.
“A number of stocks are picking up, recovering from the dip experienced earlier.
“The banking sector is showing signs of recovery, while the Oil and Gas sector is still on an upward rally,” he said. (NAN)
The Munga Dosso community in Karim- Lamido Local Government area of Taraba has appealed to the state government to ensure strict enforcement of it anti-open grazing law to address herders and farmers conflict in the state.Mr Robert Bukar, Youth Leader of the community made the appeal on Monday, while briefing newsmen in Jalingo.
The News Agency of Nigeria recalls that the Munga Dosso community has came under an attack recently by suspected herders, where scores were killed and property worth millions of naira were destroyed. Bukar noted that the bill was signed into law by the former Gov. Darius Ishaku in 2018.He said that the enforcement of the law would address the lingering farmers/herders conflict.He also decried absence of government’s representatives to the crisis affected community.The youth leader also said that the community was left to it faith at the time its 12 members were killed by suspected herders and were given mass burial.“Notably, no government representatives from federal, state, or local levels visited the community after this incident.“We have a senator, a house of representatives member, a state assembly member, yet non deemed it necessary to visit us and to listen to our lamentations.“As a peace-loving community, we always report all incidents and seek assistance from security agencies.However, we were disappointed by the lack of government representation at the mass burial, where officials failed to commiserate with our people.” It is true that the state government sent relief materials to the victims but relief materials is not our problem. We expected their solidarity at the time.“The aftermath of such violence has tragically resulted in not only fatalities but also a significant number of injuries and displacements.“It has led to a humanitarian crisis that requires urgent attention. Families are left to mourn their loved ones, while survivors grapple with trauma and insecurity.“Access to essential resources has become increasingly challenging, complicating efforts for community stability.“Moreover, in all these, our people are often arrested and from police station to prison but none of the perpetrators are brought to justice.“It is only in the recent crisis that the herders were arrested with asulted rifles by the police in Karim -Lamido but were released the next day,” Bukar said.The youth leader also appealed to government to increase security deployment to allow farmers to safely return to their farms.He also requested Taraba government to ensure that the recently constituted administrative committee of enquiry carry out a thorough investigation to apprehend and punish the perpetrators of the recent attacks. (NAN)
The Police Command in Kaduna State, on Monday confirmed the alleged killing of a Nigerian Navy Officer, Lt.-Cdr. M. Buba by a hoodlum on Sunday at about 4:50 am .The command’s spokesperson, DSP Mansir Hassan, confirmed the incident to Newsmen in Kaduna.Hassan said Buba was attacked and robbed near Kawo the fly over.
He said the yet-to-be identified individual had attacked the Naval Officer with a knife and robbed him of his mobile phones. According to him, the suspect was attempting to escape when an angry mob overpowered and beat him to death.Hassan said the late Naval officer suffered stab wounds and was rushed to Manaal Hospital where he was declared dead by a Medical Doctor.He also disclosed that Mr Suleiman Dahiru , who attempted to help the late Naval officer was also stabbed in the hand and he was also receiving treatment .Hassan said, “The body of late Buba has been deposited at the 44 Nigerian Army Reference Hospital mortuary.“The deceased was in his black Toyota vehicle with registration number APP-745HT, when the incident happened “He said investigation and monitoring were ongoing in the general area to fish out the hoodlum. (NAN)
Prince Saud bin Mishaal, Deputy Emir of the Makkah Region, announced the successful completion of Hajj 1446, declaring it incident-free in terms of security, health, and services.Mishaal said that over 1.6 million pilgrims participated in the holy pilgrimage, with 1,506,576 pilgrims arriving from outside the Kingdom.
He explained that 166,654 domestic pilgrims, comprising Saudi citizens and residents. Mishaal said, “Total pilgrims1,673,230, including 877,841 male pilgrims and 795,389 female pilgrims. ”The prince extended congratulations to the Custodian of the two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman for their role in ensuring the pilgrims’ safety and peace.He also praised the pilgrims’ cooperation and compliance with regulations, which contributed to the season’s success.Mishaal added, “The pilgrims performed their rites in safety and peace, thanks to the distinguished execution of operational plans by the Kingdom’s leadership.“The Hajj season was free of any major security, health, or service-related incidents.”He said that preparations for the next Hajj season would begin immediately, with the Kingdom’s leadership, government, and people taking pride in serving the holy sites and visitors. Mishaal extended congratulations to King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman for their role in ensuring the pilgrims’ safety and peace.( NAN)
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