Rivers

Capital Market Indices Records 2.53 Percent Rise

Published

12 years ago

July 24, 2013

The Equity
Market of the Nigerian Stock Exchange (NSE) for the week ended July 19, 2013 finished on a bright note as the bulls maintained their grip on the market resulting to a straight-nine day-gaining streak.
This market upbeat was reflected in twin market indicators as both the composite index and the aggregate market capitalisation of listed equities surged by 2.53 per cent each.
In specific terms, the All Share Index (ASI) which opened the week at 37,382.49 basis points finished at 38,328.29 basis points even as the market capitalisation of listed equities firmed up by N299.53 billion to close the week at N12.138 trillion from an opening value of N11.83 trillion.
The week opened with the first trading day finishing on positive note as the market advanced by 0.90 per cent as the ASI closed at 37,720.78 basis points. The market index continued tilting southward on the second trading as it rose by 0.44 per cent even as it increased by 0.24 per cent the following day being Wednesday.
The market recorded the highest gain on Thursday with 0.95 per cent growth while it carved in marginally on Friday flaking 0.02 per cent.
The NSE 30 index which tracks 30 most capitalised stocks on the Nigerian bourse rose by 3.06 per cent to close the week at 1,812.57 points.
Also four of the NSE indices appreciated during the week with the NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Oil/Gas and NSE –Lotus 11NSE advanced by 4.72 per cent, 1.27 per cent, 0.28 per cent, 9.37 per cent and 3.30 per cent respectively while NSE Industrial Goods and NSE Asem dropped by 0.45 per cent and 0.50 per cent in that order.
The NSE price movement chart had a total of 50 stocks which appreciated in their value up from 37 equities which recorded price appreciation the previous week. Thirty-nine dipped in their prices compared with the 47 equities that depreciated last week.
Those whose value remained flat were 105 as against 110 equities that remained constant in their prices the previous week.
The top 10 gainers were Julius Berger Nigeria Plc N13.73, Seven-Up Bottling Company Plc N10.00 Forte Oil Plc N9.42, PZ Cussons Nigeria Plc N9.14, MRS Oil Nigeria Plc N6.28, /HS Plc N1.20, Champion Breweries Plc N1.47, IPWA Plc 47 Kobo, UTC Nigeria Plc 14 Kobo and ABC Transport Plc 19 Kobo.
Conversely, the top 10 losers for the week were, Berger Paints Plc, N1.68, Points and coatings Manufacturers Plc 23 Kobo, Costain (WA) Plc 24 Kobo, Portland Paints and Products Nigeria Plc 80 Kobo, Trans-Nationwide Express Plc 27 Kobo, Jos International Breweries Plc 11 Kobo, Academy Press Plc, 20 Kobo, ARBICO Plc 62 Kobo, Nigerian-German Chemical Plc 81 Kobo, B.O.C. Gases Plc 73 Kobo and Pharma Deko Plc 20 Kobo.
A total market volume of 1.886 billion units of shares valued at N15.536 billion were recorded during the week under review in 28,619 transactions up from a total of 1.674 billion units of shares worth N18.266 billion exchanged by investors the previous week in 25,367 trades.
In volume terms, the financial service sector emerged first on the activity chart accounting for 763.653 million units of shares valued at N7.276 billion exchanging hands in 14,740 deals indicating 40.50 per cent, 46.83 per cent, 51.50 per cent of the overall equity turnover volume, value and deals.
It was followed by the conglomerates sector with a turnover volume of 704.825 million units of shares 704.825 million units of shares at the value of N1.137 billion recorded in 1,122 deals contributing 37.38 per cent, 7.32 per cent and 3.92 per cent to the total equity turnover volume, value and number of deals respectively.
With a turnover volume of 169.556 million units of shares worth N335.382 million recorded in 943 deals, the million recorded in 943 deals, the services sector emerged third on the week’s activity chart.
Trading in the shares of Transnational Corporation of Nigeria Plc (Transcorp), ABC Transport Plc and FBN Holdings Plc accounted for 900.568 million units of shares valued at N2.693 billion executed in 3,714 deals contributed to 47.76 per cent, 17.33 per cent and 12.98 per cent to the total equity turnover volume, value and deals in that order.
Meanwhile according to the National Bureau of Statistics (NBS) the drop in inflation rate last week shot pushed up the price of bond but the FGN bond reduced as bond yields and prices moved in the opposite direction.
The Nation’s Consumer Price Index (CPI) for June fell to 8.4 per cent compared to the 9 per cent it stood in May, the NBS stated. It noted that core and food indices in June averaged 8.9 per cent and eight per cent respectively as against the 12.5 per cent and 14.1 per cent it attained the previous month.
The drop in inflation rate, according to NBS was due to “slower rise in all Classification of Individual Consumption According to Purpose (COICOP) classes except the food and non-alcoholic beverages class”.
The 4 per cent FGN April 2015 rose marginally as it closed at N85.96 as against N85.33 it sold the previous week while the 15.10 per cent FGN April 2017 paper closed at N105.70 last week from an opening price of N104.70 the preceeding week. Also, the 10.70 per cent FGN May 2018 finished higher at N90.47 compared with an on-board price of N89.82.

Rivers

100 Days: Omuma Council Boss Lists Achievements

Published

24 hours ago

January 22, 2025

The Tide

The Chairman of Omuma Local Government Council in Rivers State, Rt. Hon. Promise Reginald, has given his scorecard in the first 100 days of his administration.

Reginald was elected on October 6, 2024 under the platform of All People’s Party (APP) alongside 21 other Council chairmen in the State, with the exclusion of Etche Local Government Council chairman, Dr. Uzodinma Nwafor, who was elected from a different political party.

Given his scorecard at a press briefing held in his Port Harcourt last Thursday, the Omuma Council boss expressed gratitude to Rivers State Governor, Sir Siminalayi Fubara, and the Omuma people for the confidence reposed in him.

He listed restoration of 24 hours electricity, belle first welfare empowerment programme, purchase of 28 empowerment vehicles as well as 100 JAMB forms as some of the projects his administration had achieved within the first 100 days in office.

Others were the construction of Eberi Mordern Market, renovation of Eberi Hospital, construction of hospital and rural road in Ward 2 as well as the construction of a secondary school project in Ward 10 as ongoing projects started by his administration that were near completion within three to four months period.

He pointed out with pleasure that Governor

Fubara had taken over the construction of the modern school project and the road construction.

On the human capacity development, the chairman said that his administration introduced an empowerment programme where an Omuma indegene was given one million naira every month to support his or her business.

“On education development, we have constituted a Scholarship Board to award scholarships to 10 best students of Omuma origin from year one to final year, and also we have resolved to award overseas scholarships to three Omuma indigenes to study abroad in science, medicine and engineering related disciplines. We want to leave a legacy that we will be remembered when we leave office”, he stated

According to him, his administration has proposed to establish a modern hotel in the area and also embark on mechanized agriculture to boost the revenue and tourism of the local government area.

He used the opportunity to thank the people of the local government area for their support for the Governor, Sir Siminalayi Fubara, and assured that Omuma people would continue to support the present administration in the state.

Akujobi Amadi

Rivers

Fubara Approves N50m For Widows Of Fallen Service Personnel

Published

6 days ago

January 17, 2025

The Tide

Rivers State Governor, Siminalayi Fubara, has announced a N50 million donation to widows of service personnel, who lost their lives defending the country.

He announced the donation while addressing legionnaires and service personnel during the 2025 Armed Forces Remembrance Day celebration in Port Harcourt on Wednesday.

Fubara said the donation was a gesture of gratitude for the sacrifices made by the deceased personnel and their families.

“The N50 million is dedicated solely to the welfare of the widows of our fallen heroes.

“The fund will help them address pressing needs, such as school fees, house rents, and support for their businesses, among other sundry matters”, he said.

The Governor described the Armed Forces Remembrance Day as an occasion to honour the bravery of the veterans, whose dedication helped secure the country and safeguard its sovereignty.

He recalled the evolution of Nigeria’s armed forces, citing their involvement in the First and Second World Wars, international and regional peacekeeping missions, the civil war, and current internal security operations.

“Throughout these challenges, our armed forces have remained resolute, defending our nation, maintaining peace, upholding our integrity, and ensuring the survival of our beloved country.

“Even today, our servicemen and women are on the frontlines, courageously combating insurgencies and other security threats.

“These sacrifices have come at a great cost, with thousands of soldiers paying the supreme price and many returning with life-altering injuries”, he said.

Fubara expressed his “heartfelt gratitude” to serving armed forces personnel, paramilitary officers, legionnaires, and the families of the fallen heroes for the contributions to the nation’s security.

He attributed the relative peace in the state to the collaborative efforts between the government and security agencies.

He urged Nigerians to honour the sacrifices of those who laid down their lives for the country, saying that such recognition would inspire the serving personnel to serve with dedication.

“We assure the people that we will continue to provide the necessary support to security formations in the state to ensure effective discharge of their duties”, the Governor said.

Rivers

Kelga Boss Tasks Residents On Peace … As Elele Community Holds Thanksgiving

Published

6 days ago

January 17, 2025

The Tide

Chairman of Ikwerre Local Government Area (LGA), Mr. Isreal Obosi, has urged the people to embrace peace and not allow political crisis in the state to discourage them from supporting the Governor Siminalayi Fubara-led administration in the state and Ikwerre LGA at large.

Speaking at the end of year annual service Thanksgiving, with the theme: “Celebrating God’s faithfulness”, in Elele Town, Ikwerre LGA, Obosi said the political problems ravaging the LGA and state is discouraging.

He said, “as a people we will continue to present those problems before God. So, be courageous. Again, we must not allow any problem to distract us from supporting the Governor Fubara-led administration in the state.

“When a people fail to realize the importance of God in their lives, they are doomed And such people and community are likely to face challenges”.

The Chairman stated that Elele Okiniali is the land that fears God and has many pastors and apostles. He called on them to continue to seek the face God in all the challenges in the LGA and the state.

He also urged the political class, traditional rulers, and religious leaders in the 14 Wards of the LGA to see themselves as part of this administration, stressing on the need for stakeholders to make constructive criticism when necessary, while assuring that he will give all the communities in the LGA equal opportunities.

Also speaking, the Paramount Ruler/Nye Nwe Ali of Elele, Okiniali/Elele Alimini, HRM Eze Marcus Ordumah Woyike, said since he is a peacemaker he has been working around the clock to foster peaceful co-existence at Elele Okiniali/Elele Alimini.

He said part of his peace-keeping mandate is to complement Governor Fubara’s peace initiative and effort.

“Those who know me very well know that I am a peacemaker. In fact, on the important subject of peace, I have heeded to the advice of Governor Siminalayi Fubara. Indeed, my effort towards peace is to complement that of the Governor in the state”, he said.

Eze Woyike explained that as a monarch, who commences the meeting of his council of chiefs and elders with prayer, he would continue with this approach in 2025, assuring that the peace that prevailed in 2024 will continue in 2025 throughout his domain.

“My prayer is that the peace we experienced in 2024 at Elele Okiniali/Elele Alimini will continue in 2025, because when peace reigns there will be growth and development as well as progress in life.

“2025 will be another year of peace and prosperity for the people of Elele Okiniali/Elele Alimini, Ikwerre LGA and Rivers State at large”, he said.

On his part, the chairman of the 2024 Elele Okiniali thanksgiving service planning committee, Engr. Collins Amadi, said the 2024 thanksgiving service was the 3rd edition.

He explained that the purpose of the annual thanksgiving service was to hand over Elele Town to God through prayers and praises and bring the people together.

He lauded the chairman of Ikwerre LGA, Mr. Obosi, for his support and presence at the thanksgiving service, urging all Elele politicians who failed to attend the 2024 thanksgiving service to repent and attend the next edition.

Akujobi Amadi