Nigerian Exchange records N8.66 trillion weekly gain amid increased trading
via Punch Nigeria2 min read
The Nigerian Exchange Limited experienced a significant weekly performance, with investors gaining N8.661 trillion due to heightened trading activity. Market capitalization increased by 6.60 percent, rising from N131.166 trillion to N139.827 trillion. The NGX All-Share Index also climbed by 6.57 percent, reaching 217,167.57 from 203,770.43 the previous week. A total turnover of 3.588 billion shares, valued at N195.313 billion, were traded in 254,553 deals, surpassing the 3.361 billion shares worth N151.948 billion exchanged in 229,442 transactions in the preceding week. The Financial Services Industry led sectoral activity, contributing 69.62 percent to total equity turnover volume and 48.13 percent to value. The Services Industry and Oil and Gas Industry followed in activity. Trading in Sterling Financial Holdings Company Plc, Access Holdings Plc, and Zenith Bank Plc accounted for a substantial portion of the total turnover volume and value. Sixty-one equities appreciated during the week, while 36 declined, and 49 remained unchanged. Top gainers included Trans-Nationwide Express Plc and Ecobank Transnational Incorporated, among others. Conversely, Coronation Insurance Plc and Ikeja Hotel Plc were among the top losers. The exchange also activated codes for rights issues by Guinea Insurance Plc, Lasaco Assurance Plc, and Sunu Assurances Nigeria Plc, enabling investors to trade in these offers.
Free daily or weekly digest of the most important stories from across 10 countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Punch Nigeria.
Combined security operatives have rescued the remaining 13 passengers abducted on Wednesday night. The state's Commissioner of Police, Ifeanyi Emenari, confirmed the rescue early Sunday morning, stating that the victims would be brought to Makurdi. Gunmen had intercepted a Benue Links transport vehicle, abducting passengers, including young men and women traveling to take the Unified Tertiary Matriculation Examination in Otukpo. Five victims had been rescued previously, leaving 13 in captivity. While the Joint Admission and Matriculation Board denied that any of its candidates were victims, a relative of one of the victims disputed this, stating that many passengers on the bus were indeed traveling for the examination.
The Peoples Democratic Party PDP is facing an escalating leadership crisis as zonal chairmen signal their readiness to assume interim national leadership. This move is contingent on courts upholding the expulsion of National Secretary, Senator Samuel Anyanwu, and nullifying conventions linked to his actions. Rival factions within the party continue to engage in legal disputes. Meanwhile, a strike by pilots and cabin crew at German carrier Lufthansa has caused flight disruptions, leaving some Nigerian passengers stranded and forcing others to spend nights at airports. Affected passengers were rebooked on alternative carriers, including Royal Air Maroc, though some reported poor communication and further flight postponements due to technical issues with the Moroccan airline.
Must ReadThe Strait of Hormuz was closed again on Sunday amid ongoing tensions between Iran and the United States. Mohammad Bagher Ghalibaf, speaker of the Iranian parliament, stated that while there has been "progress" in negotiations, a final deal remains "far" off due to "many gaps and some fundamental points." Iran insists the crucial maritime chokepoint will not reopen until the United States lifts its blockade of Iranian ports. US President Donald Trump acknowledged "very good conversations" but warned Iran against trying to "blackmail" the United States. The Strait of Hormuz had briefly reopened on Friday following a temporary ceasefire in the conflict involving Israel and Iran's ally Hezbollah in Lebanon, leading to a drop in oil prices. However, Tehran reversed its decision after Trump reiterated that the US blockade would continue until a final agreement. Iran's Revolutionary Guards warned that any vessel attempting to pass through the strait without permission would be "targeted." Tracking data showed few vessels crossing the waterway by late Sunday afternoon. Incidents reported include the Revolutionary Guards firing at a tanker, threatening an empty cruise ship, and a vessel being hit by an unknown projectile. India's foreign ministry summoned the Iranian ambassador to protest a "shooting incident" involving two Indian-flagged ships. On the diplomatic front, Egypt expressed optimism for a final agreement "in the coming days." A major sticking point is Iran's stockpile of
Must ReadNigeria and Türkiye have agreed on the immediate deployment of 200 Nigerian Special Forces personnel for training in Türkiye. This agreement was announced by Nigeria's Minister of Defence, Gen. Christopher Musa retd., following discussions with his Turkish counterpart, Yasar Guler, at the 5th Antalya Diplomacy Forum in Antalya, Türkiye. The training quota for 200 personnel will commence upon the Minister's return to Nigeria. Additionally, both nations have committed to joint defence equipment production and the transfer of military technology. Musa highlighted the long-standing relationship between Nigeria and Türkiye, noting Türkiye's significant advancements in military hardware production and its extensive experience in combating terrorism, similar to Nigeria's fight against insurgency. The collaboration aims to enhance Nigeria's defence capabilities through shared experiences, training, and industrial production, including the exchange of officers and soldiers. The Antalya Diplomacy Forum, themed “Mapping Tomorrow, Managing Uncertainties,” brought together world leaders, ministers, and diplomats from approximately 150 countries to discuss global defence, security, political, economic, environmental, and technological dynamics.