Tag Archives: stock exchange

Nigerian Stock Exchange Dips N27.4 Bn In September

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The Nigerian stock exchange market declined by N274 billion in the month of September to N9.733 trillion from N9.760 trillion.

Investment in the market has dropped by 1.1 percent Year to Date, YtD, while the gauge of the market declined by 0.3 percent to close at 28,335.40 points from 28,419.92 points at the beginning of the trading month.

Mr. Mustapha Chike-Obi, former boss of Asset Management Corporation of Nigeria, AMCON said it is a liquidity issue that the market currently trades about ten million dollars’ worth of securities daily but has the capacity to do more.

He further stated that the issue of liquidity must be addressed to record substantial growth in the Capital market.

“There is need to look inward and that the Government must begin to address those things that impede growth,” he added.

Accordingly, the bond market closed on a bearish note last week as profit taking along the yield curve pulled yields lower.

However, some traders have said the increase in demand for blue chip companies will likely boost the attractiveness of the market this week.

“This week we expect to see mixed signals with positive sentiments driven by a rally in oil prices, while other investors book profits in order to bid at the PMA on Wednesday.”

“The economy is going through recession, it is normal for the stock exchange market to respond likewise, but as soon as a series of measures put in place by the CBN and FG crystallized, and OPEC go through with the proposed production cut in November. The economy should record some progress and ease up,” said Samed Olukoya, a foreign exchange research analyst at Investors King Ltd.

Joshua Jesse Kelvin: The NFF Meeting With The NSE- Beyond The Horizon.

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It is no longer news that sports and sporting activities have left the realm of merely creating entertainment alone as it used to be in the past it has now become a major player in the economy.Moreso analysis and researches by most sports experts have come to a conclusion that there is a need for sports particularly football to combine sporting performance with financial performance.

Nigerian football has been overshadowed by a number of challenges ranging from government intervention in running of football (which is contrary to Article 17 of the FIFA regulation) to administrative and funding problems. Whatever prompted the visit of Amaju Pinnick led NFF to No. 2-4 Customs streets Lagos the Headquarters of the Nigerian stock exchange (NSE) one can’t tell. Whether it was to perform the increasing popular of function of ringing the closing bell at the floor of the NSE which is more like a tradition these days or actually to cement a relationship between the two institutions as they claimed only God can tell.

However the visit and the purported aspirations of pinnick  in which he expressed his hope that one day a clubs of the  NPFL would be quoted on the stock exchange was the pedestal of this piece.
We take a look of how investment in sports(football) could impacts on country’s economy.

  * Source of Revenue

The Barclay’s football as it is now called has the highest revenue of any football league in the world, with a total club revenue of 2.479billion in 2009/2010. It has also amassed a lot income from sell of television rights. For instance it was reported that television rights alone for 2010 – 2013 was purchased for 1.782 billion. In 2002 the premier league was awarded the Queens award for Enterprise in international trade category by Her Majesty Queen Elizabeth ll. Where it was recognized for its astounding contribution to international trade.

* Creates Value for the Media and Broadcasting industry

Aside from the benefits of revenue generation, it also creates value for broadcasting and media outfits. Perhaps  we’ve had of heard of Sky sports, ESPN , BBC etc. This media outfits have achieved tremendous success and international reputation from their collaboration with the BPL.

*Serves as a source of income and job creation

The Bpl  has continue to serve as a means of livelyhood to many both British and non British. It has also jobs to many as well.

  *Infrastructural development
Their has  been a lot of infrastructural developments witnessed in Britain as a result of the Bpl. It ranges from Erecting of stadiums to building good roads , hospitals, hotels and whaterview.

*Destination for Sports tourist
Many soccer fans are in the habit of travelling to watch their club play live and this will boost the tourism sector.

*Development of the Capital Market
Bpl clubs like Manchester and Arsenal are quoted on the stock exchange. What this implies is that they could decide to raise capital freely through the buying and selling of shares.

  *Source of Revenue to the Government
The Bpl also serves as a room for generation of revenue to the government through tax.

*Boost for the transport industry
We all know Heathrow and Gatwick Airports as one of the biggest in the world. Perhaps this wouldn’t have been possible without the Bpl.
By Joshua Jesse Kelvin a graduate of University of Maiduguri and a free lance writer.

Twitter handle @RealDrjj

Views expressed are solely that of author and does not represent views of www.omojuwa.com nor its associates

Nigeria Stock Market Rides On Elections Success, Gains N178 Billion

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The peaceful election over the weekend reflected on stock market yesterday when it recorded N178billion after going down on Friday.

The equities market closed yesterday on a positive note, as market capitalization appreciated by N178bn from N10.319 trillion it opened to close at N10.497 trillion during the first trading day after election.

Also, the Nigerian Stock Exchange All Share Index appreciated by 527.88 basis points represented 1.73 per cent to close at 31,090.81basis points, compared with the 1.63 per cent appreciation recorded previous Friday.

However, market turnover closes negative as volume declined by 58.75 per cent against 26.94 per
cent decline recorded in the previous session. UBA Plc, FBN Holding Plc and Diamond Bank Plc were the most active to boost market turnover. FBN Holdings Plc and Guaranty Trust Bank Plc top market value list.

The NSE Banking Index records 2.76 per cent gain to emerge the most supportive sectoral index among others while the NSE Oil & Gas Index emerged as worst hit to close with 0.24 per cent.

Market breadth closed positive as Fidson Healthcare Plc led 40 gainers against 13 losers topped by Vono Product Plc at the end of the day trading which was an improved performance when compared with previous outlook.

Fidson Healthcare Plc appreciated by 9.12 per cent to close at N3.59 kobo per share, followed by Nigerian Aviation Handling Company Plc with 7.94 per cent gain to close at N5.44 kobo, while Eternal Plc grew by 7.75 per cent to close at N3.06 kobo per share. Also, Unilever Nigeria Plc rose by 7.24 per cent to close at N42.20 kobo per share and Trans Express Plc gained 6.31 per cent per share to close at N1.18 kobo.

On the other hand, Vono Product Plc depreciated by 48.60 per cent to close at N0.85 kobo per share. Forte Oil Plc followed with 5.01 per cent to close at N213.62 kobo per share while Cadbury Nigeria Plc loss 5.00 per cent to close at N37.27 kobo per share, Pharma Deko Plc with 4.91 per cent loss to close at N2.13 kobo per share and May & Baker Plc with 4.40 per cent loss to close at N1.52 kobo per share.