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Daily Business News Brief – January 5th, 2024

5
Jan

Equity market sustains bullish run as investors gain N265bn – Punch
The bullish sentiments of the Nigerian Exchange Limited were extended for another day during Thursday’s trading as the investors gained N265bn.
However, the percentage of appreciation of the All-Share Index slowed to 0.62 per cent, the same as that of the market capitalisation of the exchange.
This is the lowest percentage increase since the market opened trading this year……………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Stock Market Maintain Positive Momentum, Gains N1.78tn in Three days – Thisday
The stock market of the Nigerian Exchange Limited (NGX) has appreciated by N1.78trrillion in the first three days of 2024 to sustain its positive momentum from closing of 2023 trading activities.
Specifically, the overall stock market capitalisation closed yesterday at N42.694 trillion, gaining N1.78trillion or 4.34per cent from N40.917 trillion it opened for trading this year.. … …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
NGX sanctions Multi-Trex, Infinity Trust Mortgage for infractions – Punch
Two firms, Multi-Trex Integrated Foods Plc and Infinity Trust Mortgage Bank Plc, have been asked to undergo Mandatory Compliance Training by the Nigerian Exchange Limited.
According to the latest X-Compliance report of the NGX Regulations, the companies failed to comply with some post-listing requirements, hence the sanctions.. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
NGX lauds collaboration with PenCom on Pension Broad Index – Punch
The acting Chief Executive Officer of the Nigerian Exchange Limited, Jude Chiemeka, has lauded the collaboration with the National Pension Commission which birthed the NGX Pension Broad Index.
In a statement issued on Thursday, Chiemeka, who was days back appointed to his new role said that the index could serve as a measure of investments of the pension industry on the local exchange……… . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Foreign investments in manufacturing sector drop by 54% — NBS – Punch
Foreign investments in Nigeria’s manufacturing sector fell by $326m (54 per cent) to $279.5m in the third quarter of 2023 from $605m recorded in the second quarter, according to the latest Capital Importation report published by the National Bureau of Statistics.
Further analysis of the report showed that despite the significant drop, the production sector had the highest capital importation in Q3 2023……… . .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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