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Business

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

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

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

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

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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

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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...

Local Bourse Extends Losses into 2nd Consecutive Session

In today’s session, sustained sell pressures amidst weak investor appetite weighed negatively on the local bourse as it extended losses into the second consecutive session. Sell pressures in DANGCEM (-3.2%), STANBIC (-10,0%), and NIGERIAN BREWERIES (-6.4%) dragged the All Share Index (ASI) southwards by 2.1% to settle at 32,466.27 points while YTD loss further moderated to -15.4%.

In line with market performance, market capitalisation skimmed N256.1bn to settle at N11.9tn. Activity level also weakened, as volume and value traded trended lower by 31.3% and 37.2% to 212.5m units and N3.8bn respectively.

The top traded stocks by volume were GUARANTY (43.6m), ZENITH (29.6m), and FCMB (22.1m) while the top traded stocks by value were GUARANTY (N1.6bn), ZENITH (N695.8m) and NIGERIAN BREWERIES (N572.8m).

Oil &Gas Index Emerges as Lone Gainer
Performance across sectors was largely bearish as 4 of 5 indices under our coverage trended southwards. The Industrial index depreciated the most, down 2.0%, following sell-offs in DANGCEM (-3.2%).

The  Consumer Goods and Banking indices trailed in the negative trend, as they shed 1.6% and 0.9% respectively, due to sell pressures in NIGERIAN BREWERIES (-6.4%), GUINNESS (-5.2%), STANBIC (-10.0%), and GUARANTY (-1.3%).

Losses in WAPIC (-7.0%) and NEM (-1.0%) dragged the Insurance index lower by 0.4%. On the flip side, the Oil & Gas index closed as the lone gainer due to gains in OANDO (+5.0%) and FO (+1.9%) on the back of positive 9M:2018 results which drove the index higher by 0.7%.

Investor Sentiment Weakens
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.5x from 0.7x recorded yesterday as 15 stocks appreciated against 30 decliners. REGALINS (+10.0%), INTBREW (+10.0%) and AIRSERVICE (+10.0%) were the best performing stocks while the worst performing stocks were UNIONDAC (-10.0%%), STANBIC (-10.0%) and DANGFLOUR (-9.8%).

Yesterday, we noticed sustained sell pressures on prior advancers indicating investor profit taking. We expect the bearish sentiment to remain elevated till close of the week although we advise cautious optimism.

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Topics

NAICOM Chief Visits Nasarawa Governor to Promote Compulsory Insurances

As part of the National Insurance Commission’s drive to...

Stanbic IBTC Graduates 2nd Batch of Digital Trainees

Stanbic IBTC Holdings PLC, a member of Standard Bank...

Kaspersky Offers Free Security for Medical Firms over COVID-19

  Kaspersky announces free availability of its core endpoint security...

Unity Bank Champions Digital Literacy, Innovation for Youth Empowerment 

In line with its commitment to supporting youth empowerment...

Verve Launches ‘Live the Good Life Campaign’

  Verve, the largest domestic card scheme in Africa, recently...

9mobile Secures $230m from AFC for Expansion

9mobile Nigeria has secured $230 million from the Africa...

NPA, FRSC Partner on Port Safety Model

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NASENI Empowers 100 Ebonyi Youths on Modern Methods of Electrical Installation

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