NGX Rises as Abbey Mortgage Bank Lists More Shares
The Nigerian Exchange (NGX) rises midweek after Abbey Mortgage Bank lists more shares after rights issue made to shareholders, the segment performances end on a negative note.
After selling down on Airtel Africa share, equity investors today renewed their interest in Telco companies as MTN Nigeria tops buying order books. Consequently, the Nigerian All Share Index gained 44.43 basis points, representing an increase of 0.09 percent to close at 47,109.25.
Equity market capitalisation advanced by a total sum of ₦25.81 billion, representing an uptick of 0.10 percent to close at ₦25.39 trillion. Abbey Mortgage Bank Plc listed additional shares of 3.69 billion Ordinary Shares following Rights Issue at ₦0.82 per share on the basis of 4 for 7 ordinary shares.
Following the bargain hunting in the equity space, trading activities at the local bourse were bullish as the total volume and value rose by 16.06 percent and 116.55 percent, respectively.
Atlass Portfolios Limited said approximately 318.25 million units valued at ₦8.27 billion were transacted in 4,868 deals. ACCESS led as the most traded stock in terms of volume, accounting for 15.05 percent of the total volume of trades.
The Tier-1 lender was followed closely by MTNN (6.82%), ZENITH BANK (5.43%), UBA (5.30%) and NB (5.29%) to complete the top five on the volume chart. Meanwhile, MTNN emerged as the most traded stock in value terms, with 52.50 percent of the total value of trades on the exchange.
LEARNAFRCA topped the advancers’ chart with price appreciation of 9.94 percent, followed by JAPAULGOLD (8.57%), UACN (6.52%), STANBIC (2.21%), AFRIPRUD (1.54%), AIRTELAFRI (0.80%), MTNN (0.50%) and nineteen (19) others.
On the other hand, twenty-nine (29) stocks dipped, led by UPDC with a price depreciation of 6.36 percent to close at ₦1.03. Read: Abbey Mortgage Bank Signs ₦3.692bn Rights Issue
CHAMS share price tumbled by 4.35%, HONYFLOUR shed 2.06%, WAPCO fell 1.52%), ETI lost 1.23%, GTCO sank 1.14%, TRANSCORP declined 0.86%, UBA bumped 0.59%, DANGCEM dropped 0.47%, VITAFOAM dipped 0.22% and OANDO was priced down by 0.20%.
Overall, the market breadth closed negative, recording 19 gainers and 29 losers. All sectors closed negatively compared to the previous session led by Industrial Goods (-0.34%), Banking (-0.20%), Consumer Goods (-0.09%), Insurance (-0.04%) and Oil & Gas (-0.04%), respectively. #NGX Rises as Abbey Mortgage Bank Lists More Shares
