NGX Index Rises as Sterling, Coronation List Private Placements
The Nigerian Exchange (NGX) All-Share Index (ASI) rose by more than N1.91 trillion on Monday, driven by buying interest and additional shares listed by financial institutions.
The stock market closed out trading for August on a bullish note, as key performance indicators showed mixed results – for trading and additional shares listed by Sunu Assurance, Coronation Insurance and Sterling Financial Holdings.
The NGX-ASI rose by +1.20%, while the market capitalisation increased by +1.23%.
The mixed performances of these indicators can be attributed to the additional listings of 2,075,285,714 Ordinary Shares of 50 Kobo each at N4.50 per share arising from Sunu Assurances Nigeria Plc’s Rights Issue,
The market also welcomed 2,510,848,144 ordinary shares of 50 Kobo each at N2.00 per share arising from Sovereign Trust Insurance Plc’s Rights Issue.
Sterling Financial Holdings Company Plc’s Private Placement totalling 2,573,080,294 Ordinary Shares of 50 Kobo each was listed at N4.00 Per Share,
Coronation Insurance Plc was also in the market, listing 4,533,624,070 Ordinary Shares of 50 Kobo each in a private placement at N2.16 Per Share.
Therefore, the NGX-ASI added 2,900.92 points in today’s trading session, reflecting a 1.20% increase to close at 244,199.39, while Market Cap gained ₦1,913.26 billion, rising by 1.23%, thereby settling at ₦157.74 trillion.
Total Volume of trades and the total value traded increased by 0.17% and 29.56%, respectively. Stockbrokers reported that approximately 606.19 million units, valued at ₦38,703.92 million, were transacted in 53,471 deals.
ACCESSCORP topped the volume chart, up 20.90% to emerge as the most traded, followed by GTCO (5.48%), UBA (5.20%), NB (5.16%), and VERITASKAP (4.79%).
In terms of transaction value, MTNN accounted for 14.80% of total trade value, making it the most actively traded stock on the exchange.
OMATEK topped the gainers chart, up by +10.00%, then trailed by IKEJAHOTEL (+9.95%), SOVRENINS (+9.94%), SUNUASSUR (+9.86%), ROYALEX (+9.09%), ETI (+8.98%), and thirty-seven others.
A total of sixteen stocks depreciated.
With a price depreciation of -9.41%, ABBEYBANK topped the worst performers’ chart, followed by AVACAP (-7.69%), FTNCOCOA (-6.25%), TANTALIZER (-4.98%), CONHALLPLC (-4.60%), and CMFC (-4.48%).
Hence, market breadth closed on a positive note, with 43 gainers and 16 losers. Sectoral performance was positive today as four of the five major market sectors increased.
The Banking sector appreciated by +3.11%, followed by the Consumer goods sector (+1.72%), the Oil & Gas sector (+1.35%), and the Insurance sector (+0.88%). Only the Industrial goods sector declined by 0.65%. #NGX Index Rises as Sterling, Coronation List Private Placements# NGX Index Dips as Investors Offload FirstHoldco, Fidelity Bank
