The Nigerian equity market today began the trading week on a negative note as the All-Share-Index depreciated by 0.09% to halt previous positive sentiment of six consecutive trading day.
The downtrend was supported by value depreciation on some bellwether stocks like ZENITHBANK, GUARANTY, FBNH and 13 others. However, the market breadth closed on a positive note, recording 16 gainers as against 15 losers.
In summary, the All-Share Index (ASI) decreased by 23.41 absolute points, representing a dip of 0.09% to close at 25,582.23 points. Similarly, the overall Market Capitalisation size shed N12.22 billion, representing a contraction of 0.09% to close at N13.35 trillion.
ETERNA emerged as the top gainer while HONYFLOUR emerged as the top loser.
The downturn was impacted by loses recorded in large and medium capitalized stocks, amongst which are; HONYFLOUR (-6.25%), DANGSUGAR (-3.60%) GUARANTY (-2.45%), UBA (-2.33%), FBNH (-1.00%), ZENITHBANK (-0.57%) and GUINNESS (-0.35%)
HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR
The Federal Government, on Wednesday, announced the immediate increase in the pump price of petrol to N151.56 per litre from N149, being the third increase in three months.
Canon has announced a new and easy-to-use desktop scanner, designed with flexible USB and WiFi connectivity, to support small businesses wherever their workspace is set up.
Flying Doctors Healthcare Investment Company plans to set up a $1 billion fund to invest in health care and wellness across Africa.
CredoLab, a leading developer of bank-grade digital credit scorecards based on smartphone metadata which launched in Nigeria, Kenya, and South Africa, last year, has secured USD 7 million in its Series-A round funding led by GBG, the global specialist in identity data intelligence.
A new study from Juniper Research has found that the number of cars with embedded connectivity will reach 200 million globally by 2025; rising from 110 million in 2020. One of the main beneficiaries of this growth will be mobile
The leading brand-building and marketing communication company, Nitro 121 (formerly known as 141 Worldwide), turns fifteen on the 1st of September 2020 and promises to continue to deliver bespoke marketing communications services to clients and other partners.
Aerospace and defence sector heavily impacted by COVID-19 pandemic, brands could lose up to 20% of brand value, equating to a US$22.8 billion loss cumulatively
Ikeja Electric Plc (IE), Nigeria’s largest Electricity Distribution Company, is celebrating the first year anniversary of its Willing Buyer, Willing Seller initiative dubbed Bilateral Power by customers. The company’s Bilateral Power service promises customers a minimum of 20 hours of power supply and improved service in exchange for cost-reflective tariffs.
British Apparel Company BLK Sport and The Nigeria Rugby Football Federation (NRFF) have signed an exclusive long-term kit sponsorship/partnership deal aligning with the Company’s global strategy.
Apple reportedly bought VR startup Spaces, the tech giant’s eighth disclosed acquisition of the year. We discuss Apple’s moves in the VR space — including a patent for reducing motion sickness while working virtually in a vehicle.
In line with its continuous commitment to youth development in Nigeria, MTN Foundation, the CSR arm of Nigeria’s leading ICT company, MTN Nigeria, has engaged leading minds in the Nigerian entertainment and media industry for this year’s edition of MTN’s Business of the Art Series.