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Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Equity Market Plunges… ASI Down 2.3%

The domestic equity market closed yesterday on a negative note as the All Share Index (ASI) plunged 2.3% falling below the 30,000-mark for the first time since May 2017 to close at 29,336.80 points. Market YTD return worsened to -6.7% and market capitalisation decreased by N260.8bn to N10.9tn.

Yesterday’s performance was dragged by price depreciation in DANGCEM (-8.6%), GUARANTY (-2.2%), and ACCESS (-5.9%). Similarly, activity level was mixed as volume traded increased 8.6% to 234.9m units while value traded fell to N2.2bn, lower by 15.9%.

The top traded stocks by volume were DIAMOND (54.7m units), GUARANTY (27.7m units) and ZENITH (25.8m units) while GUARANTY (N865.7m), ZENITH (N526.3m) and FBNH (N152.1bn) were the top traded stocks by value.

Mixed Sector Performance
Today’s performance across sectors was mixed as 3 of 5 indices under our coverage closed in the red. The Industrial Goods index experienced a reversal, down 4.4% following sell offs in DANGCEM (-8.6%). The Insurance and Banking indices were also lower by 3.1% and 0.3% respectively, following losses in CUSTODIAN (-5.9%), NEM (-9.9%), GUARANTY (-2.2%) and ACCESS (-5.9%).

Conversely, the Consumer Goods and Oil & Gas indices ticked up 0.7% and 0.2% respectively, buoyed by gains in FLOURMILL (+4.7%), CADBURY (3.6%), OANDO(+1.2%) and MOBIL (+0.2%).

Investor Sentiment Improves
Investor sentiment, measured as market breadth (advance/decline ratio), strengthened to 0.7x from 0.5x recorded yesterday as 14 stocks advanced against 19 that declined. The best performers were JBERGER (+10.0%), UNILEVER (+9.6%) and UCAP (+6.9%) while UPL (-10.0%), NEM (-9.9%) and CHAMPION (-9.9%) posted the worst losses.

We believe that the lingering bearish sentiment in the local bourse will remain unabated as tensions in the political uncertainty remain heightened.

Hot this week

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Stanbic IBTC Bank, LOXEA BYD forge alliance for Electric Vehicle Financing

In a strategic move to advance Nigeria’s shift toward...

CBN, Bank of Angola Sign MoU on Technical Co-operation at IMF/World Bank Meeting

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NBS: Nigeria’s Inflation Falls to 18.02% in September, Lowest Level in Three Years

Nigeria’s headline inflation rate fell for the sixth consecutive...

NUPEMCO Marks 2025 CSW with Nationwide Pension Awareness Activities, Huawei-Supported National Essay competition

The Nigerian University Pension Management Company (NUPEMCO) celebrated the...

Topics

Deloitte Named Best Company to Work for in Nigeria 2015

Akintola Williams Deloitte has been named the Best Company to Work for in Nigeria by the prestigious Great Place to Work Institute Nigeria. Deloitte won awards in two different categories: • Best Company to Work for in Nigeria (2015): 1st Position in the category of “Large Population” • Best Practice Awards in Nigeria (2015): in the category of “Delivering Excellence in Learning & Development” Over 100 companies in Nigeria including major multinationals, oil & gas companies and major financial institutions participated in the assessment.

PenCom to Commence 2022 Online Verification/Enrolment Exercise for Retirees

The National Pension Commission (PenCom) wishes to inform the...

Sterling HoldCo Delivers 157% Profit Growth in Half-Year 2025

Sterling Financial Holdings Company Plc has reported a 157%...

Inspenonline Summit to Stimulate Interest for Good Retirement

The 2025 Inspenonline Retirement Summit is aimed at stimulating...

Law Union & Rock Insurance Settles N1.5bn Claims in 2016

Law Union & Rock Insurance Plc paid claims of...

Stanbic IBTC Insurance Unveils Comprehensive Funeral Expenses Cover – Sunset Benefit Plan

Stanbic IBTC Insurance Limited, a subsidiary of Stanbic IBTC...

Making the Circular Economy Work for 210m Nigerians  

By Elvis Eromosele Nigeria has a huge population. Current estimates...

Emirates Rated World’s Safest Airline on the Planet

Emirates which just resumed its daily flights to Lagos,...
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