Nigerian Stock Exchange’s ASI Fell By 0.29 percent

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

List of First Bank of Nigeria Sort Codes in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...
- Advertisement -

The Nigerian stock displeased to maintain the positive performance reported the previous week as the Nigerian Stock Exchange (NSE) All-Share Index dropped 0.29 per cent to close at 27,698.69, while market capitalization ended lower at N13.484 trillion.

The depreciation in the NSE ASI came despite an increase of 33 per cent in value of trading, which rose to N18.75 billion from N14.082 billion the previous week.

The market had opened last Monday with a bearish performance, falling by 0.7 per cent. The negative trend was sustained on Tuesday with a depreciation of 0.6 per cent. However, the bulls set in on Wednesday, lifting the market by 1.0 per cent, while the bears returned on Thursday with a decline of 0.1 per cent.

Although the market recovered on Friday with a growth of 0.2 per cent, the growth was not enough to off-set the previous losses. Hence, it ended the week with a decline of 0.29 percent.

- Advertisement -

Looking ahead, analysts at Cordros Capital said they expected the market to remain pressured given global risk-off sentiments and weak domestic participation.

“Nonetheless, we note that valuations remain attractive while price deterioration has resulted in expected dividend yields on some stocks rising significantly to levels on par with yields on Treasury bills. Hence, we advise that long-term investors consider appropriately timed investments,” they stated.

Across Africa, bearish sentiments prevailed as only  Kenya’s market put up a positive performance.  Kenya’s NSE 20 Index advanced 0.5 per cent. Egypt’s EGX 30 Index lost the most, down 2.4 per cent, followed by  Morocco’s Casablanca MASI  that went down by 1.1 per cent. Ghana’s GSE Composite and Mauritius’ SEMDEX indices also depreciated 0.04 per cent and 0.03 per cent respectively.

In the Asian and Middle East market, three of the five markets tracked closed in the negative territory. The attack on Saudi Arabia’s oil infrastructure recently appeared to have affected the markets like Saudi Arabia’s Tadawul ASI, UAE’s ADX General and Qatar’s DSM 220 indices lost 1.2 per cent, 0.6 per cent and 0.5 per cent respectively. On the positive side, Turkey’s BIST 100 and Thailand’s SET indices appreciated by 2.9 per cent and 1.6 per cent in that order.

- Advertisement -

However, the BRICS market recorded a relatively good performance as three of the five markets grew.  India’s BSE Sens index gained 1.7 per cent as the government cut corporate taxes to revive waning growth.

Brazil’s Ibovespa and Russia’s RTS also appreciated 1.0 per cent and 0.1 per cent respectively.  Conversely, South Africa’s FTSE/JSE shed 1.2 per cent, while China’s Shanghai Composite shed 0.8 per cent.

Performance in the developed markets was also bullish last week as four of the seven markets tracked appreciated. The United States (US) S&P 500 and NASDAQ indices gained 0.2 per cent apiece due to the Fed’s rate cut.

In Europe, France’s CAC 40 index emerged the lone gainer, rising   0.6 per cent while Germany’s XETRA DAX and UK’s FTSE All-Share indices pared garnered 0.02 per cent and 0.1 per cent respectively. Also, Hong Kong’s Hang Seng index shed   3.4 per cent just as Japan’s Nikkei 225 rose 0.4 per cent.

- Advertisement -

Market turnover

In terms of turnover, investors traded 1.272 billion shares worth N18.750 billion in 19,482 deals compared with 1.147 billion shares valued at N14.082 billion that exchanged hands in 17,980 deals two weeks ago.

The Financial Services industry led the activity chart with 945.947 million shares valued at N9.743 billion traded in 11,046 deals, thus contributing 74.3 per cent and 51.96 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 82.934 million shares worth N5.556 billion in 2,862 deals, while the third place was occupied by the Conglomerates Industry with a turnover of 80.821 million shares worth N267.101 million in 1,163 deals.

Read Also:  International Breweries Plc to Merge with Intafact, Pabod

Trading in the top three equities namely, FBN Holdings Plc, Guaranty Trust Bank Plc, and Access Bank Plc, accounted for 482.334 million shares worth N6.561 billion in 4,724 deals, contributing 37.9 per cent and 34.9 per cent to the total equity turnover volume and value respectively.

Investors in Exchange Traded Products transacted 96 units valued at N215,654.78 last week in six deals compared with a total of 6,540 units valued at N23,650.70 transacted the preceding week in five deals.

Also, the bonds market recorded 17,761 units of Federal Government Bonds valued at N20.361 million exchanged in five deals compared with a total of 274 units valued at N280,932.14 transacted the previous week in seven deals

Top price gainers and losers

Meanwhile, 38 equities appreciated at price during the week, lower than 39 equities in the previous week, while 29 depreciated, higher than 19 in the previous week.

Cornerstone Insurance Plc led the price gainers with 30 per cent, trailed by Livestock Feeds Plc with 28.2 per cent, while Stanbic IBTC Holdings Plc went up by 22.4 per cent.

The Chief Executive, Stanbic IBTC Holdings Plc, Mr Yinka Sanni ecently assured stakeholders that the group remained strong, stable, sustainable in its operations and would continue to deliver long value.

Stanbic IBTC Holdings Plc posted a profit of N36 billion for the half-year which ended June 30, 2019, and rewarded shareholders with an interim dividend of N10.2 billion at 100 kobos per share.

Speaking against the background of that performance and future plans Sanni said: “We remain committed to operating to the highest level of corporate governance standards while delivering sustainable long-term value to clients and other stakeholders through world-class innovative operations and our customer-centric approach.”

He said that the group’s achievements were an indication that its strategy was delivering on set goals and objectives, assuring stakeholders that the organization would continue to invest in its people, processes, and its communities to ensure business sustainability.

According to him, in 30 years, Stanbic IBTC has built a culture of excellence in providing its clients with innovative financial products and services as well as contributing to the attainment of the developmental aspirations of the country.

“Stanbic IBTC has grown steadily from its early days as a merchant bank to a leading end-to-end financial services provider in the country today, with a balance sheet size close to N2 trillion and a market capitalisation valued at approximately N500 billion in December 2018,” Sanni said.

He explained that the bank, in a clear demonstration of its confidence in Nigeria, facilitated a staggering $589.84 million capital inflow into the country during the second quarter of this year.

Meanwhile, NEM Insurance Plc chalked up 20.7 per cent, while UAC of Nigeria Plc went up 19.7 per cent. PZ Cussons Nigeria Plc gained 19.4 per cent, while Dangote Sugar Refinery Plc and Okomu Oil Palm Plc garnered 15.1 per cent and 13.5 per cent respectively. Jaiz  Bank Plc and Linkage Assurance Plc appreciated by 13.1 per cent and 12 per cent respectively.

Conversely, Airtel Africa Plc led the price losers’ table with 19 per cent, followed by Champion Breweries Plc with 11.5 per cent. Portland Paints & Products Nigeria Plc shed 9.7 per cent, just as NCR Nigeria Plc went down by 9.0 per cent. Associated Bus Company Plc, Chams Plc and Sterling  Bank Plc depreciated by 8.3 per cent,   7.6 per cent and 7.2 per cent in that order.

RT Briscoe Nigeria Plc went down by 6.9 per cent, while The Initiates Plc and LASACO Assurance Plc lost 6.6 per cent apiece among others.

- Advertisement -
Nigerian Stock Exchange’s ASI Fell By 0.29 percent - Brand SpurNigerian Stock Exchange’s ASI Fell By 0.29 percent - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nigerian Stock Exchange’s ASI Fell By 0.29 percent - Brand SpurNigerian Stock Exchange’s ASI Fell By 0.29 percent - Brand Spur

Latest News

DEBx Medical Receives CE Mark Clearance and ISO 13485 Certification for Debrichem(R), a Novel Desiccant Gel for Chemical Debridement to Initiate Healing in Infected,...

  • Debrichem(R) offers a very effective, alternative approach to chronic wound care, initiating healing in more than 90 % of cases after one application[1]
  • CE mark and ISO 13485:2016 certification are important prerequisites for upcoming launches in markets worldwide
  • Chronic wounds affect 1 - 2 % of developed countries' populations,[2] unsuccessful treatment may lead to enlargement of the wound, bone involvement or in the worst case, amputation[3]
  • Debrichem soon to be launched in Europe, Hong Kong, South Africa, New Zealand and Australia


ROTTERDAM, THE NETHERLANDS - EQS Newswire - 25 February 2021 - DEBx Medical, the Dutch medical technology company revolutionizing the management of chronic wounds, is excited to highlight today the successful completion of the CE conformity assessment procedure for Debrichem(R). The innovative topical agent offers a superior alternative to surgical debridement, the current standard of care. Debrichem can now carry the CE mark for a medical device class IIb and has also been awarded ISO 13485:2016 certification. These certifications endorse the quality and safety of Debrichem to treat a high unmet medical need and the strength of the DEBx Medical team to achieve this quickly even in such difficult times. DEBx Medical plans first to launch Debrichem in Europe, South Africa as well as Hong Kong, New Zealand and Australia through a network of distribution partners; other markets will follow. DEBx Medical has started consultations with the FDA about the pathway to approval earlier this year.

Debrichem is a topical desiccant gel for chemical wound debridement used for the treatment of chronic infected and/or necrotic wounds. This novel product desiccates (dehydrates) the biofilm and the pathogens in the wound bed, debriding the biofilm chemically instead of surgically. Surrounding healthy skin is not affected.[4] The data underlying the CE mark approval show that, after a one-time 60-second application, more than 90 % of wounds result in full granulation,1 an important step in the healing process.[5] Due to its fast action and applicability outside the surgery room, Debrichem can easily be integrated within standard wound care procedures.4

"Being granted the CE mark and ISO 13485 certification for Debrichem in less than two years after founding DEBx Medical is an exciting and important milestone. I am proud of our achievements and would like to thank the whole team involved in this huge effort," said Dr. Bertus Quint, founding CEO of DEBx Medical. "Chronic wounds are painful and debilitating and patients have very limited options for healing. With Debrichem, we set out to significantly improve this situation which is frustrating for healthcare professionals and patients alike. We believe that Debrichem has the potential to meaningfully improve health outcomes and quality of life for millions of patients worldwide."

"In my day-to-day work, I experience the patients' despair associated with chronic wounds and the doctors' frustration with their inability to provide patients long-term healing. With the current COVID-19 pandemic, the situation has been exacerbated: many of our patients are in high-risk groups - elderly, diabetic or chronic cardiovascular patients - who now cannot go to the hospital for their urgently needed treatment," said David L. Helfet, MD, Professor of Orthopaedic Surgery, Weill Cornell Medical College and Hospital for Special Surgery, New York Presbyterian Hospital. "The major advantage of Debrichem is that with a relatively simple, quick, one time application it destroys the biofilm. Removing the biofilm is absolute key to get chronic wounds to heal. Debrichem is an important step forward in the management of chronic wounds and will find its place in the standard of care in a very short time. It may even have the potential to become the new gold standard for debridement in chronic wound care."

Chronic wounds are defined as wounds that have not healed, at least in part, after 4 to 12 weeks.[6] Physiologically, healing of chronic wounds is corrupted, among other factors, by excess inflammation and a recurrent or persistent, if not drug-resistant, microbial infection, often in the biofilm on a wound bed.4 The current gold standard treatment, maintenance surgical debridement, is a painful procedure performed in a sterile environment. Surgical debridement does not reliably initiate healing of the wound but can be part of an extensive wound management program requiring patients to repeatedly come into the hospital. Not surprisingly, general quality of life is impaired in patients with chronic wounds.6 Chronic wounds are estimated to have a prevalence of up to 2 % in the general population.[7] The wound etiology has an impact on outcome, arterial ulcers and venous leg ulcers are notoriously difficult to heal. Chronic wounds are also a common comorbidity of diabetes,[8] 13 % of patients with diabetes in North America to 17 % in Belgium are suffering from chronic wounds.[9] The burden of chronic wounds to healthcare systems and society around the world is substantial, exacerbated by the high rate of amputation in especially diabetic patients which is close to 34 % for diabetic foot ulcers.8 In the UK alone, chronic wounds generated costs of GBP 5.6 bn in 2018. The total wound care costs in the UK increased annually by 8 - 9 % with chronic wounds accounting for the largest share.[10]

References
[1] Cogo A et al., J Wound Care 2020;29(Sup7b):63-64. https://doi.org/10.12968/jowc.2020.29.Sup7b.1
[2] Nussbaum SR et al., Value Health 2018;21:27-32. https://doi.org/10.1016/j.jval.2017.07.007
[3] Strohal R et al., J Wound Care 2013; 22 (Suppl. 1): S1-S52. https://doi.org/10.12968/jowc.2013.22.Sup1.S1
[4] Cogo A et al., Wounds 2021;33:1-8. https://www.woundsresearch.com/article/restarting-healing-process-chronic-wounds-using-novel-desiccant-prospective-case-series
[5]http://www.shieldhealthcare.com/community/popular/2015/12/18/how-wounds-heal-the-4-main-phases-of-wound-healing/
[6] Olsson M et al., Wound Repair Regen 2019;27(1):114-125. https://doi.org/10.1111/wrr.12683
[7] Martinengo L et al., Ann Epidemiol 2019;29:8-15. https://doi.org/10.1016/j.annepidem.2018.10.005
[8] McCosker L et al., Int Wound J 2019;16:84-95. https://doi.org/10.1111/iwj.12996
[9] Zhang P et al., Ann Med 2017;49:106-116. https://doi.org/10.1080/07853890.2016.1231932
[10] Guest JF et al., BMJ Open 2020;10:e045253. https://doi.org/10.1136/bmjopen-2020-045253


The issuer is solely responsible for the content of this announcement.


About Debrichem(R)

Debrichem(R) is a disruptive new treatment option to address the infection in chronic wounds. The topical agent offers a superior alternative to surgical debridement, the current standard of care. Debrichem has been demonstrated to remove the biofilm and the pathogens from the wound bed that disrupt the onset of the natural healing process. Out of the more than 1.000 patients treated so far, more than 90 % of chronic wounds started to heal after only one treatment with Debrichem.4 The product is applied in a fast and simple, non-invasive procedure. Healthcare professionals should always consider using local anesthetics when applying the treatment. Debrichem can be used outside a surgical environment which can be particularly useful in situations, such as during the COVID-19 pandemic, where patients cannot get to hospitals to undergo surgery, avoiding long-term complications like amputation. Debrichem will be sold through a worldwide network of distributors, with the first market launches expected in Q1 2021.


About DEBx Medical

DEBx Medical B.V. is a Dutch medical technology company dedicated to revolutionizing the management of chronic wounds by enabling their healing, thereby improving the outcomes for millions of patients. DEBx Medical supports doctors and their patients from diagnosis through treatment, follow-up care, and maintenance of a healthy wound bed. The Company focuses its pipeline on targeting pathogens that corrupt wound healing, aiming to deliver affordable and effective treatment approaches that can easily be applied and implemented in daily clinical practice. Debrichem(R), DEBx Medical's first product, received a CE mark in early 2021 and will be launched in markets around the world. Debrichem offers a disruptive approach to debridement that has been demonstrated to enable healing of chronic wounds in more than 90 % of cases.

Nigerian Stock Exchange’s ASI Fell By 0.29 percent - Brand Spur
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Nigerian Stock Exchange’s ASI Fell By 0.29 percent - Brand SpurNigerian Stock Exchange’s ASI Fell By 0.29 percent - Brand Spur