1 month ago
11 ARTICLE AD
Nigerian Exchange Limited
The bullish run that the Nigerian Exchange enjoyed in the past week propelled the market capitalisation to almost N60tn mark, closing at N59.43tn.
The market gained N3.34tn last week despite closing in the red in three of the five trading sessions.
The All-Share Index rose 0.48 per cent week-on-week to 98,070.23 points as the year-to-date gains advanced to 31.2 per cent from 30.5 per cent.
The new listings on the exchange contributed significantly to the positive outing of the equity market in the past week.
During the week in review, oil company, Aradel Holdings Plc listed by introduction its shares on the daily official list of the NGX.
Aradel Holdings listed 4,344,844,360 ordinary shares of 50 kobo each at N702.69 per share on Monday but closed the week at N625.40.
Also, C&I Leasing Plc listed 987,500,000 ordinary shares of 50 kobo each via debt-to-equity conversion of N1,975,000,000 unsecured variable coupon redeemable convertible loan Stock plus the bonus shares of 658,333,333 on Tuesday.
With this listing of the additional 1,645,833,333 ordinary shares, the total issued and fully paid-up shares of C&I Leasing have now increased from 1,302,743,612 to 2,948,576,945 ordinary shares of 50 kobo each.
At the end of the week, investors exchanged 1.447 billion shares worth N73.89bn in 39,546 deals compared to 2.97 billion shares valued at N31.51 that were traded in 42,482 deals last week.
Leading on the activity chart (measured by volume) was the financial services industry with 8,86.971 million shares worth N16.94bn exchanged in 17,045 transactions, contributing 61.31 per cent and 22.93 per cent to the total equity turnover volume and value, respectively.
It was followed by the oil and gas industry with 257.578 million shares worth N52.07bn in 9,798 deals and the services sector followed with 69.620 million shares worth N330.88m in 2,069 deals.
The top three equities were Japaul Gold and Ventures, United Bank for
Africa and Zenith Bank.
Measured by volume, the trio accounted for 420.318 million shares worth N8.42bn in 5,146 deals, contributing 29.05 per cent and 11.39 per cent to the total equity turnover volume and value, respectively.
Transcorp Power, which recently released its third-quarter report, saw its shares appreciate by 19.29 per cent to N359.90; Mecure Industries, which listed about a year ago gained 18.81 per cent to close at N12 and Dangote Sugar Refinery Plc rose by 13.06 per cent to close trading at N35.05.
Losers included Regency Assurance, which lost about 15.28 per cent to close trading at N0.61, Tripple Gee and Company lost 14.93 per cent to close at N1.71 and new listing, Aradel Holdings Plc shed 11 per cent of its value to close trading at N625.40 per share.
At the end of the week, 33 equities appreciated higher than 29
equities in the previous week and 43 equities depreciated lower than
52 in the last week, while 76 equities remained unchanged, higher than 70 recorded in the previous week.
