Destiny34:
ISlam is a cursed!

franchasng:
Islamic finance - Hahahahahaha

Cletus77:
As investors hear "Islamic finance"

Na so everybody pack their load o...them no fit shout

Gratefulheart01:








Fuckest shithole in the world

fergie001:
Nigerian equities failed to fare well this week as negative sentiments from investors led to a N17 billion drop in market capitalisation of the Nigerian Stock Exchange (NSE).

The stock market kick-started the week on a bearish note as the All Share Index (ASI) declined by 0.36 per cent to close at 30,322.19 points, following sell-offs of Consumer Goods & Banking stocks.

Thus, the Month-to-Date and Year-to-Date losses increased to 2.40 and 3.53 per cent respectively while market capitalisation fell by N48 billion to close Monday at N13.354 trillion from N13.402 trillion.

Tuesday’s session saw losses in the shares of Dangote Cement, Nigerian Breweries and Dangote Sugar which drove a 0.7 per cent loss in the benchmark index while market capitalisation fell N98 billion to close at N13.256 trillion while YTD loss further weakened to -4.3 per cent.

There was no activity, however, on Wednesday as the Federal Government declared a holiday on June 12. Thursday’s session saw continued bearish run as the ASI shed 0.23 per cent to settle at 30,029.15 points following losses in the shares of Dangote Cement, Dangote Sugar and Access Bank.

Consequently, market capitalisation dropped N31 billion to settle at N13.224 trillion while YTD loss worsened to -4.5 per cent.

Friday’s session, however, saw a rebound in the stock market indices as the ASI recorded a marginal increase of 0.06 per cent to close the week at 30,046.70 points.

Similarly, market capitalisation grew by N8 billion to close the week at N13.232 trillion. However, the figure represents a N17 billion drop in the value of equities.

At the close of trading on Friday, 18 stocks appreciated in value while 12 others depreciated. Forte Oil topped the gainers’ chart with 9.91 per cent to close at N29.40 per share, Unity Bank was next with a gain of 9.38 per cent to close at 0.70 kobo, Royal Exchange increased by 9.09 per cent to close at 0.24 kobo, Courtville gained five per cent to close at 0.21 kobo while Wema Bank garnered 3.33 per cent to close at 0.62 kobo.

On the flipside, Thomas Wyatt topped the losers’ chart with 8.33 per cent to close at 0.33 kobo per share. International Breweries followed with 7.25 per cent to close at N18.55, Jaiz Bank lost 4.17 per cent to close at 0.46 kobo, Fidelity Bank declined by 2.89 per cent to close at N1.68 while Africa Prudential fell by 2.58 per cent to close at N3.40.

GT Bank topped the activity chart with the sale of 55.72 million shares valued at N1.71 billion. Access Bank traded 16.00 million shares worth N100.76 million while UBA sold 7.74 million shares worth N47.45 million.

Overall, the volume and value of stocks traded stood at 145.27 million units and N2,83 billion respectively in 2,445 deals.

Analysts noted that the market situation was down due to the current state of the economy, but added that the market would bounce back.

According to the Managing Director, Crane securities, Mike Eze, a more working relationship between the government and market stakeholders is needed to stimulate positivity in the economy as well as the capital market. “You know that the market is very sensitive and information driven, the economy is unstable at the moment, hence the bearish run. However, what we want the government to do is to take up capital market instruments and stop taking up foreign loans as the market has the capacity to provide such liquidity. The bonds raised so far has been commendable, but they need to come up with more bond initiatives so as to raise enough capital, with that liquidity will be provided, but with government continuing to borrow capital from abroad, then the market will suffer”.

Cordros Capital in an emailed note said: “Our outlook for equities in the short to medium term remains conservative, amidst absence of a positive catalyst. However, stable macroeconomic fundamentals remain supportive of recovery in the long term”.

Meanwhile, the NSE in partnership with REDmoney Group, is set to hold the inaugural edition of the IFN Nigeria Forum with theme: “Harnessing the Islamic Finance Sector for Infrastructure Development and Economic Growth”, this week at the Eko Hotels and Suites, Lagos. The forum is aimed at promoting the growth and development of the Nigerian Islamic Finance industry and facilitate the growth of a new asset class in the capital market.

The IFN Nigeria Forum 2019, which would be headlined by Ms Mary Uduk, acting Director-General, Securities and Exchange Commission (SEC), would bring together a stellar line-up of speakers, comprising senior industry players, decision makers, regulators and investors, to exchange views and experiences on opportunities in the Nigerian Islamic finance market.

https://www.sunnewsonline.com/investors-lose-n17bn-in-4-days/

L

Destroyerofyeeb:
I guess the N500bn that flatheadedd yamreee in Central Bank stole is starting to have effect. For Pete sake why would buhari keep such a criminal in Central Bank when it's obvious he helped the previous administration loot money through the central bank.

Destroyerofyeeb:
I guess the N500bn that flatheadedd yamreee in Central Bank stole is starting to have effect. For Pete sake why would buhari keep such a criminal in Central Bank when it's obvious he helped the previous administration loot money through the central bank.