By Dipo Olowookere

Weak investor sentiment sliced 0.63 per cent from the Nigerian Exchange (NGX) Limited on Monday, the first trading session after a one-day break last Friday for Democracy Day celebration in Nigeria.

The stock market came under selling pressure yesterday, leaving all the major sectors of the bourse facing southwards.

The energy index shed 3.20 per cent, the banking space lost 1.17 per cent, the insurance counter declined by 0.68 per cent, and the consumer goods sector crumbled by 0.39 per cent, while the industrial goods segment closed flat.

Consequently, the market capitalisation decreased by N844 billion to N156.126 trillion from N156.970 trillion, and the All-Share Index (ASI) contracted by 1,316.40 points to 243,422.34 points from 244,738.74 points.

International Energy Insurance gave up 9.99 per cent to trade at N6.40, eTranzact crashed by 9.97 per cent to N14.90, Abbey Mortgage Bank lost 9.65 per cent to finish at N10.30, Oando dropped 9.43 per cent to quote at N48.00, and NAHCO tumbled by 9.19 per cent to N163.00.

On the flip side, Royal Exchange appreciated by 10.00 per cent to N1.65, Ikeja Hotel moved up by 9.97 per cent to N47.45, Neimeth improved by 9.94 per cent to N9.40, Consolidated Hallmark gained 9.58 per cent to sell for N9.04, and University Press climbed 9.09 per cent to N6.00.

Yesterday, market participants traded 569.1 million shares valued at N31.4 billion in 77,652 deals compared with 1.7 billion shares worth N52.8 billion exchanged in 49,807 deals in the preceding session, showing a rise in the number of deals by 55.91 per cent, a tightening in the trading volume by 66.52 per cent, and a shrinkage in the trading value by 40.53 per cent.

Sterling Holdings was the busiest stock on Monday with a turnover of 103.0 million units worth N805.5 million, GTCO exchanged 41.3 million equities for N5.6 billion, FCMB traded 37.9 million shares for N433.7 million, Access Holdings sold 27.3 million equities worth N666.0 million, and UBA transacted 20.4 million stocks valued at N877.3 million.

By Adedapo Adesanya

The oil market went down by $4 a barrel to a three-month low on Monday after President Donald Trump said the United States and Iran have signed a memorandum ​of understanding aiming to end the Iran war and reopen the Strait of Hormuz.

Brent crude futures declined by $4.16 or 4.76 per cent to $83.17 a barrel, and ‌the US West Texas Intermediate (WTI) crude futures shed $4.13 or 4.87 per cent to sell for $80.75 a barrel.

The US and Iran reached a deal to reopen the Strait of Hormuz, though analysts voiced caution over the agreement’s prospects. According to reports, the MoU has been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker, Mr Mohammad Bagher Qalibaf.

Pakistan and Qatar, the two lead mediators in the deal, also confirmed the agreement, while an official ​signing ceremony for the agreement is due to be held on Friday in Geneva.

Reuters reported that the draft deal called for reopening ​the Strait of Hormuz within 30 days under Iranian arrangements, while President Trump said ships could traverse the waterway within days and would not be charged a toll.

Market analysts noted that the deal and the potentially imminent reopening of the Strait of Hormuz do not mean that the oil and gas trade will quickly return to its previous levels. The announcement of the deal is just the first step, and it could take months for oil and gas shipments in the region to return to pre-war levels.

The world has lost millions of barrels of oil and gas supply since the war closed the Strait of Hormuz, a chokepoint for a fifth of the world’s oil and liquefied natural gas supplies, ​for more than three months.

According to the International Energy Agency (IEA), more than 14 million barrels per day of oil output is shut, equivalent to about 14 per cent of world demand. It is unclear how quickly those barrels will return to market once the waterway is opened.

E4 nations, which include the United Kingdom, France, Germany and Italy, said on Sunday that the countries were prepared to lift sanctions on Iran in response to steps on its nuclear programme.

By Adedapo Adesanya

United Capital Plc has acquired a 5 per cent equity stake in the Nigerian Exchange (NGX) Group Plc for an undisclosed fee, deepening its involvement in Nigeria’s capital market.

The pan-African investment banking and financial services group announced this in a statement on Monday, noting that the transaction had been successfully completed and describing the investment as a key milestone in its long-term growth strategy.

NGX Plc, which serves as the holding company for Nigeria’s premier securities exchange and related market infrastructure businesses, plays a central role in Nigeria’s capital formation, market development, and economic growth.

United Capital said the acquisition reflects its confidence in the future of Nigeria’s capital markets and positions the Group to contribute more actively to the development of the nation’s financial system.

Commenting on the development, the chief executive of United Capital, Mr Peter Ashade, said the investment aligns with the company’s vision of creating sustainable value while supporting institutions critical to economic development.

“This acquisition reflects our confidence in Nigeria’s capital markets and our responsibility to contribute to their growth actively,” Mr Ashade said.

“We have always said that United Capital is not just a participant in Nigeria’s capital markets; we are also builders. This strategic investment in NGX Plc is exactly that: we are building for impact. It is our vote of confidence in the leadership and strategic direction of the NGX and where the capital market is headed,” he added.

According to him, the acquisition underscores the firm’s commitment to supporting the continued evolution of Nigeria’s capital market infrastructure while delivering long-term value to shareholders.

United Capital, which operates across 12 countries in West, East and Central Africa, provides a range of services spanning investment banking, asset management, securities trading and wealth management.

The company said the stake in NGX Plc would enable it to leverage its regional footprint and market expertise to support the Exchange’s next phase of growth and transformation.

The acquisition comes amid a series of strategic milestones for the financial services group, including the successful recapitalisation of all its subsidiaries ahead of regulatory deadlines and the recent acquisition of operational licences in Ethiopia and Rwanda.