• Thursday, July 25, 2024
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BusinessDay

Stock market fails to recover from loss

Ghana grants banks extension for reports filing

The anticipated recovery in Nigeria’s stock market did not happen on Thursday amid persisting negative sentiment on Custom Street.

Rather, the market furthered its losing streak by 0.02percent, pushing further down the year-to-date (YtD) positive return to +11.26 percent.

The market’s performance indices – the All-Share Index (ASI) dropped from a preceding day high of 47,531.84 points to 47,524.38 points, while its equities market capitalisation decreased by N4billion, from N25.889trillion to N25.885trillion.

In 3,264 deals, investors exchanged 86,547,082 shares valued at N2.090billion.

Read also: NGX Regco asks stakeholders to intensify environmental, social, governance efforts

Airtel Africa Plc in a statement at the Nigerian Exchange Limited (NGX) announced that its Tanzania subsidiary, Airtel Tanzania plc purchased 140 MHz of additional spectrum spread across the 2600 MHz (2 blocks of 2x15MHz) and 3500 MHz bands from the
Tanzania Communications Regulatory Authority (TCRA) for a gross consideration of $60.1million.

“This additional spectrum will support our network expansion in the market for both mobile data and fixed wireless home broadband capability, including 5G rollout, providing significant capacity to accommodate our continued strong data growth in the country.

“This investment reflects our continued confidence in the opportunity inherent in the Tanzanian market, supporting the local communities and economy through furthering digital inclusion and connectivity,” Airtel Africa said.