...EllahLakes, C&I Leasing lead the losers’ table 

On Wednesday, the stock market continued its bearish trend, with an N57 billion loss from investors’ portfolios.

Selloffs in Tier-one banking stocks, including Zenith Bank, FBN Holdings, United Bank for Africa (UBA), Access Corporation, and Fidelity Bank, among others, drove the market into negative territory.

Specifically, the market capitalisation fell by N57 billion, or 0.10 per cent, from N56.076 trillion to N56.019 trillion.

Similarly, the All-Share Index dropped by 0.10 per cent, losing 98 points to close at 97,487.14 points, compared to 97,584.81 points recorded on Tuesday.

As a result, the Year-To-Date (YTD) return decreased to 30.38 per cent.

The market breadth also closed negative, with 38 losers and 15 gainers.

EllahLakes led the losers’ table by 48k to close at N4.40, ABC Transport trailed by 13k to close at N1.22 and Eterna dropped N2.30 to close at N24.70 per share.

C&I Leasing lost 34k to close at N3.71 and Livestock Feed went down by 30k to close at N3.44 per share.

Conversely, Lasaco Assurance led the gainers’ table by 23k to close at N2.53, Mecure followed by 80k to close at N9.25, and Julius Berger gained N14 to close at N164 per share.

Regency Alliance Insurance also added 5k to close at 60k, while Gold Breweries advanced by 25k to close at N3.40 per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 16.65 per cent.

A total of 356.13 million shares valued at N6.95 billion were exchanged in 8,582 deals,in contrast to 719.11 million shares valued at N8.34 billion traded in 9,435 deals, posted previously.

Meanwhile, Fidelity Bank led the activity chart in volume with 66.24 million shares valued at N988.10 million, and UBA followed with 38.04 million shares worth N1.03 billion, to lead the chart in value.

Sterling Nigeria sold 33.79 million shares valued at N179.59 million, Nigerian Breweries traded 14.56 million shares worth N435.65 million and Oando Plc transacted 13.12 million shares worth N934.24 million.

The Bank of Industry (BOI) has announced plans to disburse loans of up to N1 billion to 140 manufacturing companies across Nigeria under the Federal Government’s N75 billion Manufacturing Sector Fund.

BOI Managing Director, Olasupo Olusi, made this disclosure at the bank’s inaugural annual public lecture series on Wednesday in Abuja.

He explained that the loan aimed to foster production, ensure economic growth, and boost job creation. 

“About 140 manufacturing companies will receive loans of up to N1 billion at single-digit interest rates.

“The funds under this programme have been fully allocated to successful applicants across the six geopolitical zones of the country, and disbursements have commenced.

“For transparency, the programme is working with the Manufacturers Association of Nigeria (MAN) to ensure all beneficiaries are genuine manufacturers, providing additional validation of loan applicants.”

Olusi stated that by offering low-interest loans, BOI aims to boost production, enhance job creation, and promote sustainable growth in the manufacturing industry.

According to the BOI boss, the Bank has disbursed N77.65 billion in loans to almost 1,000 MSMEs across various sectors in the country.

He noted that these interventions align with the Federal Government’s efforts to alleviate poverty and enhance food security by supporting enterprises that drive economic growth and create jobs.

Olusi restated the inauguration of the BOI PriceSense NG platform, a price intelligence dashboard providing real-time data on price trends across Nigeria.

“The platform aims to stabilise markets, protect consumers, and inform policy decisions related to food insecurity.

“We are unveiling the BOI PriceSense NG, a price intelligence dashboard and mobile app for real-time monitoring of price variations of food commodities nationwide.

“These initiatives demonstrate our commitment to impactful research, innovative solutions, and transparency in all endeavours,” Olusi said.

Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, reaffirmed the government’s commitment to drive economic growth through MSMEs, pledging improved access to financing, innovation, and policy support.

The stock market, on Thursday, reversed some gains from its previous sessions, indicating a loss of N267 billion from the portfolios of investors.

Selloffs in MTN Nigeria, Oando Plc, United Bank For Africa (UBA), Fidelity Bank, and FCMB Group, alongside Cadbury and United Capital, amongst other declined stocks, drove the market to a negative terrain.

Specifically, the market capitalisation closed at N56.615 trillion, having lost N267 billion or 0.47 per cent from an opening of N56.882 trillion.

The All-Share Index also declined by 0.47 per cent or 464 points to settle at 98,523.56 points, against 98,987.42 points reported on Wednesday.

Consequently, the Year-To-Date return fell by 31.76 per cent.

However, the market breadth closed positive with 29 gainers and 26 losers.

On the gainers’ log, FTN Cocoa led 28 other advanced stocks by 9.82 per cent to close at N1.79 per share.

Also, Caverton led 25 other declined stocks on the losers’ log by 9.83 per cent to close at N2.97 per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 47.44 per cent.

A total of 344.36 million shares valued at N6.61 billion were exchanged in 9,005 deals, compared to 603.31 million shares valued at N12.58 billion, traded in 9,723 deals posted in the previous session.

Meanwhile, UBA led the activity chart in volume and value with 29.18 million shares worth N756.09 million.