Market Updates

Ellah Lakes opens N235bn public offer The integrated agro-industrial enterprise, Ellah Lakes, opened its N235bn public offer on Monday. The offering was officially declared open during a Facts Behind the Offer presentation at the NGX. The PUNCH reports that Ellah Lakes Plc is raising N235bn through the issuance of 18.8... Read More →

Stronger laws empower NDIC to enforce bank liquidation mandate The Nigeria Deposit Insurance Corporation (NDIC) is now operating under stronger, more effective laws to execute its mandate to liquidate banks, according to its managing director and chief executive, Thompson Oludare Sunday. Sunday stated this when he received the President/Chairman of... Read More →

Wema Bank lists N49.99bn shares on NGX The Nigerian Exchange Limited has revealed that Wema Bank has listed about N49.99bn worth of shares on its Daily Official List. In its weekly report, the NGX disclosed that an additional 4,545,454,542 ordinary shares of 50 kobo each of Wema Bank Plc were... Read More →

Bearish sentiment was sustained on the Nigerian Exchange Limited over the past week, leading to the market closing in the red, with investors losing N2.84tn, a 2.90 per cent decline in market capitalisation. The All-Share Index also declined by 2.99 per cent week-on-week to close at 149,524.81 points. Consequently, the... Read More →

Stock market closes weaker amid sell pressure, as profit-taking persists The Nigerian Exchange (NGX) ended trading, last week, on a weaker note extending the bearish trend as investors continued profit-taking and cautious repositioning across major sectors. The negative performance, according to analysts, reflected renewed sell pressures across the banking, consumer goods,... Read More →