Connect with us

Business News

Buy Pressure on Champion Breweries, FBNH Lifts Market by 0.45%



By Dipo Olowookere

Nigerian stocks rebounded on Tuesday by 0.45 per cent on the back of buy pressure on Champion Breweries, FBN Holdings and 25 other equities.

The share price of Champion Breweries rose by 10.00 per cent to N2.53, with Cornerstone Insurance trailing with a growth of 9.80 per cent to settle at 56 kobo.

FBN Holdings appreciated by 9.79 per cent to N10.65, Sovereign Trust Insurance grew by 9.09 per cent to 24 kobo, while Livingtrust Mortgage Bank gained 8.96 per cent to settle at 73 kobo.

On the reverse side, a total of 13 shares depreciated in price on Tuesday with Consolidated Hallmark Insurance leading the pack after its value went down by 6.78 per cent to trade at 55 kobo.

Japaul lost 6.25 per cent to settle at 45 kobo, NEM Insurance depreciated by 3.81 per cent to trade at N2.02, Ikeja Hotel dropped 3.51 per cent to sell for N1.10, while Oando declined by 3.46 per cent to N5.02.

Business Post reports that apart from the energy sector which lost 0.71 per cent, every other major index finished strong with insurance rising by 1.02 per cent. The banking counter gained 1.00 per cent, the industrial goods space went up by 0.51 per cent, while the consumer goods index appreciated by 0.06 per cent.

When trading activities closed yesterday, the All-Share Index (ASI) jumped by 182.96 points to 40,896.96 points from 40,714.00 points, while the market capitalisation rose by N96 billion to N21.311 trillion from N21.215 trillion.

During the session, the number of deals went down by 3.23 per cent to 4,253 deals from 4,395 deals, the trading volume went up by 194.75 per cent to 563.9 million units from 191.3 million units, while the trading value increased by 96.72 per cent to N5.1 billion from N2.6 billion.

FBN Holdings was investors’ toast at the market yesterday, selling 317.3 million units valued at N3.3 billion and was followed by Champion Breweries, which traded 49.9 million units valued at N126.3 million.

Ecobank transacted 38.1 million shares worth N269.2 million, UBA exchanged 22.5 million stocks valued at N181.4 million, while Fidelity Bank transacted 16.6 million equities valued at N43.4 million.

News23 mins ago

Court freezes Benue’s accounts over unpaid N333m loan

World32 mins ago

Muslim commentator calls Indians ‘kaffir’ on broadcast as Muslims in India cheer Pakistan’s cricket victory

Politics42 mins ago

JUST IN: INEC Chairman gives important Update on Anambra Elections

Technology50 mins ago

eNaira Wallet App Angrily Removed From Play Store, After too Many Negative Reviews

Business News1 hour ago

AfDB Approves $10m to Boost Cold Storage, Distribution in East Africa

News1 hour ago

University Of Aberdeen to formally return looted Benin Bronze on Thursday

Business News1 hour ago

Sterling Bank Increases Investment in Waste Management

World2 hours ago

European Commission rejects formal pleas from 12 member nations to help finance border walls

Business News2 hours ago

Senate Seeks Improved Funding for ICPC

News2 hours ago

NNPC gets Nigerian govt’s approval to deploy N621.2bn tax liabilities on road projects

Sports2 hours ago

Eduardo Camavinga Is Set To Start Real Madrid’s La Liga Clash With Osasuna

Business News2 hours ago

Heirs Insurance Promises Customers Affordable Annuity Plans

News2 hours ago

Moment Naira Marley arrived court today for fraud trial

Metro2 hours ago

Final show in France for looted Benin treasures

Sports2 hours ago

West Ham Have Been Given Planning Permission To Increase The London Stadium’s Matchday Capacity To 62,500

Business News2 hours ago

Lagos, Others to Benefit from Korea, Nigeria Education Project

News3 hours ago

First Bank addresses Otedola, Hassan-Odukale’s leadership tussle

Sports3 hours ago

Joan Laporta Has Issued His Verdict On The Scenes That Engulfed Ronald Koeman After El Clásico

Business News3 hours ago

AU, World Bank Suspend Sudan over Military Coup

World3 hours ago

UK: Guardian smears groups protesting cost of resettlement of Afghan evacuees as ‘far-right’

Entertainment24 hours ago

Nigerian boy who went viral for “mummy calm down” video makes Nollywood debut in Kunle Afolayan’s movie

News14 hours ago

10 top stories from Nigerian newspapers, Wednesday morning, October 27, 2021

Business News23 hours ago

Transactions on I&E FX Window Fall 26.9% to $851m in One Week

News23 hours ago

South-West governors meet on insecurity, investment

Entertainment10 hours ago

Chats screenshots show Kelvin lied about his marital status to Maria and that he’s been separated from his wife since 2018 (Read)

Business News23 hours ago

NUC Selects UNILAG, Others for SPESSE Project

News23 hours ago

Nigeria will heave sigh of relief when I succeed Buhari in 2023 – Yahaya Bello

Business News23 hours ago

Food Service App Jise Raises $100k for Quick Delivery

Technology15 hours ago

eNaira Review: Not User Friendly, Apps Contains Many Flaws as Nigerians Complain

World24 hours ago

Democratic Republic of Congo: Muslims murder 16 people and torch houses in jihad raid on village

News22 hours ago

Bauchi gov appoints 15 special advisers, six heads of agencies

Entertainment8 hours ago

Reality star, Ka3na flaunts new set of teeth, following teeth procedure ‘worth millions of naira’ (video)

Business News22 hours ago

Atlas Mara Zambia Merger Will Boost Our Earnings—Access Bank

Politics8 hours ago

Why EFCC arrested me – Ex-SGF, Anyim Pius Anyim opens up

Relationship5 hours ago

5 Ways Social Media Can Make A Guy Feel More Attached To You

Entertainment15 hours ago

I have no regrets relocating from Canada to Nigeria — Actress, Linda Osifo

Business News24 hours ago

Glo Introduces New Package for Subscribers

Metro2 hours ago

Final show in France for looted Benin treasures

Entertainment14 hours ago

“All is well” – BBN’s Maria allegedly says in reaction to the husband-snatching scandal.

Entertainment24 hours ago

“They wished me death while you were in my stomach” – Toyin Lawani writes as she celebrates her daughter