The Kano Gezawa First Commodity and Exchange Market, established by the Accountant General of the Federation, Ahmad Idiris, is to commence full operation with stock broker activities in the first quarter of 2021.
Speaking while receiving the Kano Concerned Citizens Initiatives headed by a former presidential candidate of the defunct National Republican Covention, Alhaji Bashir Tofa, the AGF said the market had already secured a licence for a Gallery for Stock Brokers and Operators.
He explained that the market was connected with Wi-Fi and was adequately integrating Information Technology in its operations, while Nigeria Customs Service, the National Drug Law Enforcement Agency, the Nigeria Import and Export Commission have monitoring desks in the market.
He said the market is to enjoy the status of a full Inland Dry Port vital organisations having offices there.
Idris said over 2,500 persons would be employed as workers at the market, adding that already, over 500 persons including women and youths worked there.
In his remarks, Chairman of KCCI, Tofa admitted that laxity and ignorance had left the North in extreme poverty.
He lamented that social vices, drug addiction, thuggery and banditry had now ravaged the North, while vast farming lands were left idle.
Nigerian Stock Market Continues to Decline
Nigerian equities market declined for a third consecutive day on Thursday as 24 stocks closed in the red against 14 stocks that gain.
Investors traded 266,115,101 shares worth N4.216 billion during the trading hours of Thursday, against 243,185,049 shares valued at N3.747 billion that were transacted in 3,777 deals on Wednesday.
Market value dipped by N71 billion to N22.494 trillion, down from N22.565 trillion recorded on Wednesday. The Nigerian Exchange Limited All-Share Index lost 0.32 percent to 43,108.77 index points.
Sectorial analysis showed the banking industry closed in the red after losing 116 basis points on the back of a broad decline in ETI, Unity Bank and Union Bank of Nigeria Plc. Jaiz Bank and Fidelity Bank recorded gains.
Also, the consumer industry lost 106 basis points on a decline in Nigerian Breweries, Interbrew and Cadbury. Honeywell Flour led gainers with +9.76 percent.
Oil and gas and industrial industries shed 164 basis points and 1 basis point respectively. The Exchange year-to-date return depreciated by 7.05 percent.
|HONYFLOUR||N 3.69||N 4.05||0.36||9.76 %|
|AIICO||N 0.59||N 0.64||0.05||8.47 %|
|REGALINS||N 0.36||N 0.39||0.03||8.33 %|
|UPL||N 2.50||N 2.70||0.20||8.00 %|
|IKEJAHOTEL||N 1.25||N 1.35||0.10||8.00 %|
|MRS||N 15.20||N 13.70||-1.50||-9.87 %|
|CHAMS||N 0.23||N 0.21||-0.02||-8.70 %|
|ETI||N 8.75||N 8.00||-0.75||-8.57 %|
|CHIPLC||N 0.62||N 0.57||-0.05||-8.06 %|
|UNITYBNK||N 0.55||N 0.51||-0.04||-7.27 %|
Stock Market Extends Decline on Wednesday
Nigerian stock market extended decline for a second consecutive day on Wednesday despite 23 stocks closing in the green against 18 stocks that lost.
Investors exchanged 243,185,049 shares valued at N3.747 billion in 3,777 transactions on Wednesday, against 217,972,819 shares valued at N2.908 billion that were traded in 4,158 deals on Tuesday.
Market value dipped by N12 billion from N22.577 trillion recorded on Tuesday to N22.565 trillion on Wednesday while the All-Share Index sheds 0.02 percent to close at 43,245.02 index points.
The banking sector gained 25 basis points on positive close of Fidelity Bank, Zenith Bank, Sterling. Wema Bank and Access Bank both closed in the red.
The consumer goods sector also gained, expanding by 9 basis points on Unilever, Dangote Sugar, Flour Mill and Nestle. Honeyflour and Intbrew shed 9.78 percent and 1.87 percent, respectively.
The oil and gas sector lost 24 basis points amid the US decision to increase the global oil supply from its reserve. Industrial index gained 13 basis points. See other details below.
Top Five Gainers
|LIVINGTRUST||N 0.80||N 0.88||0.08||10.00 %|
|CHAMS||N 0.21||N 0.23||0.02||9.52 %|
|AIICO||N 0.54||N 0.59||0.05||9.26 %|
|IKEJAHOTEL||N 1.15||N 1.25||0.10||8.70 %|
|NGXGROUP||N 15.30||N 16.50||1.20||7.84 %|
|HONYFLOUR||N 4.09||N 3.69||-0.40||-9.78 %|
|ETERNA||N 6.65||N 6.05||-0.60||-9.02 %|
|REGALINS||N 0.39||N 0.36||-0.03||-7.69 %|
|CORNERST||N 0.56||N 0.52||-0.04||-7.14 %|
|WEMABANK||N 0.83||N 0.80||-0.03||-3.61 %|
Nigerian Stock Market Dips Marginally on Tuesday
The Nigerian stock market extended its decline on Tuesday despite investors transacting over N11 billion worth of Oando shares on Monday.
Investors traded 217,972,819 shares valued at N2.908 billion in 4,158 deals, against 2,402,071,798 shares worth N16.467 billion that were transacted in 4,811 on Monday.
The banking industry gained 21 basis points on the back of positive close from Wema Bank, Access Bank, UBN and ETI.
However, the consumer goods sector dipped by 1 basis point as the decline in Intebrew and Dangote Sugar outweighed profit from Honeywell Flour, Flourmill and Unilever. Oil and gas sector lost 20 basis points while the industrial sector closed flat.
Market value of all listed equities depreciated by N1 billion from N22.576 trillion it closed on Monday to N22.577 trillion on Tuesday.
All-Share Index declined by 0.01 percent to 43,255.14 index points, down from 43,260.13 index points posted on Monday. The Exchange year-to-date return moderated to 7.41 percent.
|HONYFLOUR||N 3.72||N 4.09||0.37||9.95 %|
|UPL||N 2.30||N 2.50||0.20||8.70 %|
|CHIPLC||N 0.54||N 0.58||0.04||7.41 %|
|GLAXOSMITH||N 6.05||N 6.40||0.35||5.79 %|
|FTNCOCOA||N 0.40||N 0.42||0.02||5.00 %|
|UPDC||N 1.39||N 1.26||-0.13||-9.35 %|
|NEM||N 2.05||N 1.86||-0.19||-9.27 %|
|MANSARD||N 2.35||N 2.23||-0.12||-5.11 %|
|CHAMS||N 0.22||N 0.21||-0.01||-4.55 %|
|ROYALEX||N 0.49||N 0.47||-0.02||-4.08 %|
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