NGX Rises by N112bn as Notore Chemical Lists Privately Sold Shares
The Nigerian Exchange (NGX) market capitalisation expanded by about N112 billion on Monday after Notore Chemical lists privately sold shares in the local bourse.
The domestic market resumed trading activities for the new week on a negative note, with key performance indicators showing mixed results.
The All share index dropped by -0.07%, while market capitalisation rose by +0.20%. The market index reduced by 69.34 basis points to close at 98,132.15. Conversely, stockbrokers reported that equities market capitalisation rose by ₦111.77 billion to close at ₦55.72 trillion.
Atlass Portfolios Limited said the disparity between the indicators was a result of the listing of Notore Chemical Industries Plc’s 2,418,099,300 Ordinary Shares of 50kobo at ₦43.75 per share on the Exchange today through private placement.
The market experienced sell-offs in some medium and large-scale stocks such as NASCON, ZENITHBANK amidst rising economic tension, windfall tax on banks FX gains.
Due to bearish display, market activities were down. Total volume and total value traded dropped by -65.64% and -59.69%, respectively, according to data from the Lagos bourse. Stockbrokers reported that approximately 379.13 million units valued at ₦8,706.77 million were transacted across 10,096 deals.
UBA was the most traded stock in terms of volume, accounting for 18.23% of the total volume of trades, followed by FBNH (6.58%), ACCESSCORP (6.31%), UNIVINSURE (5.86%), and GTCO (5.54%).
SEPLAT emerged as the most traded stock in value terms, accounting for 31.14% of the total value of trades on the exchange at the beginning of the week.
AFRIPRUD topped the advancers with a price appreciation of 10.00 percent, trailed by CUTIX which surged by +9.90%. Other gainers include ETERNA (+9.88%), OANDO (+9.83%), CUSTODIAN (+9.80%), NSLTECH (+9.52%), and sixteen others.
Today, twenty-one stocks depreciated in the equities market and CAVERTON was the top loser, with a price depreciation of -10.00%. Other decliners include WAPIC (-9.30%), NEIMETH (-7.65%), ZENITHBANK (-3.63%), TRANSCORP (-1.68%), and FTNCOCOA (-0.60%).
At the end of the trading session, the market breadth closed positive, recording 22 gainers and 21 losers. The market sector performance was, however, negative, as three of the five major market sectors were down.
The banking sector declined by 1.01%, followed by the Consumer goods sector, which shed -0.07%. Also, the Industrial sector fell by 0.01%. Oil & Gas and Insurance sectors grew by +1.32% and +0.15% accordingly. #NGX Rises by N112bn as Notore Chemical Lists Privately Sold Shares
