Shell Nigeria’s oil output dips 22% on challenges
Energy giant Shell has said its share of production, onshore and offshore, in Nigeria was 175,000 barrels of oil equivalent per day (boe/d) in 2021, down from 223,000 boe/d in 2020. The company, in its annual report on Thursday, said security issues, sabotage and…
Nigeria watches as Ghana, Egypt, US adjust petrol prices
In a season where many forward-thinking countries have adjusted their retail price of petrol to reflect current global realities, Africa’s biggest oil-producing country has remained docile. Oil shot above $100 per barrel for the first time in years the day Russia invaded…
Nigeria should expect food scarcity by June – Dangote
Nigeria should expect an outbreak of food scarcity in the next three months as adverse consequences of the Russian-Ukraine war begin to come home to roost, Aliko Dangote, chairman, and chief executive of Dangote Group has said. The war impact which has begun with the sporadic rise in wheat pricing may soon spread…
Nigeria faces fresh spike in food prices on rising diesel cost
The recent surge in the prices of diesel in Nigeria, Africa’s largest economy, has led to a fresh spike in food prices, dashing hopes of returning to a more stable market condition. The price of Automotive Gas Oil, popularly known as diesel, has soared by almost 170 percent in one year to N620-650 per litre from N220…
Fuel price hike: Aviation industry may soon shut down, says NCAA
Musa Nuhu, the Director General, Nigeria Civil Aviation Authority (NCAA), on Thursday said the agency will be left with no alternative than to shut down the aviation industry if the price of fuel keeps skyrocketing. Nuhu spoke at the meeting of stakeholders in the aviation and oil industry with the House of…
ALERT: 4.71% of FCMB’s Outstanding Shares Traded on NGX Today
At the close of trading today, a total volume of 932.89mln units of shares of FCMB Group Plc valued at N25.57bn were traded.
This represents 80.87% of the total market volumes of 1.15bn while the value of FCMB shares traded represents 49.68% of the total market value traded which was put at N7.03bn.
Furthermore, the volume traded represents 4.71% of FCMB’s total shares outstanding put at 19.80bn shares while the value of the shares traded also represents 5.04% of FCMB market capitalization of N69.31bn as of March 11, 2022.
A comparison of FCMB today’s volume traded with the previous day’s traded volume revealed that it increased by 6068%.
The share price of FCMB moved up by a tick size of +1.45% to close at N3.50k at the close of trading today.
Year-to-date, FCMB shares have moved up by +17.45% as against +11.05% YTD return recorded by the NGXASI, outperforming the broad market index by +6.40%.
We await further clarifications from the market on what the movement in shares represent.
Chart: 8 Days Share Price Movement and Volume Traded
Table: 8 Days Share Price Movement and Volume Traded
Investors Gain N91.02bn WoW as NGXASI Inches up by 0.36% to Close the Week Positive
Equities market closed on a positive note, as NGXASI appreciated by +0.16% to close at 47,437.48 basis points as against +0.16% appreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +11.05%.
Market breadth closed flat as NIGERINS led 21 Gainers as against 21 Losers topped by ROYALEX at the end of today’s session an unimproved performance when compared with previous outlook.
Market turnover closed positive as volume moved up by +341.02% as against -22.23% downtick recorded in the previous session. FCMB, ZENITHBANK and ACCESS were the most active to boost market turnover. FCMB and ZENITHBANK topped market value list.
FCMB leads the list of active stocks that recorded impressive volume spike at the end of today’s session.