NGX Group may list the shares by IPO on October 13


By Dipo Olowookere

The Nigerian Exchange (NGX) Limited posted growth of 1.61% last week, triggered by gains posted by 42 stocks, higher than the 33 stocks that closed on the winners chart a week earlier.

During the five-day trading week, University Press was the best-performing stock, rising 28.46% to stand at 1.58N.

FBN Holdings appreciated 21.74% to 9.80 N, Courtville rose 17.14% to 41 kobo, Ecobank gained 16.67% to sell 6.30 N, while Pharma Deko increased by 10.64% at 2.60 N.

During the week, a total of 26 stocks depreciated, more than 22 from the week before, with Cornerstone Insurance falling 12.07% to 51 kobo.

Morison Industries fell 10.00% to 1.89 N, BOC Gases fell 9.87% to 10.50 N, Regency Assurance fell 9.09% to 40 kobo, while Academy Press lost 7.69% to close at 36 kobo.

Business post reports that a total of 87 stocks traded flat, or less than 100 stocks the week before.

It was observed that while the All-Share Index (ASI) rose 1.61 percent to 40,868.36 points, the market capitalization appreciated 1.62 percent to N21,296 trillion due of the listing of N3.3 billion additional shares of Jaiz Bank during the week.

Likewise, all other indices finished higher except for the insurance and consumer goods indices, which lost 1.51% and 0.51% respectively, while the ASeM, growth and sovereign bonds indices were down. fenced flat.

In terms of activity level, investors traded 2.2 billion shares worth N22.0 billion in 22,438 deals during the week, compared to 2.2 billion shares of worth 16.2 billion naira traded in 14,377 deals a week earlier.

A breakdown said financial stocks topped the rankings in terms of volume with 1.8 billion units valued at N18.1 billion traded in 12,942 deals, accounting for 81.20 percent and 82.22, respectively. percent of volume and total value of transactions.

Shares of conglomerates followed with revenue of 93.2 million units valued at 169.8 million naira in 736 deals, while ICT stocks accounted for 72.3 million units of ‘worth 1.0 billion naira in 861 transactions.

Further analysis showed that FBN Holdings, Universal Insurance and Fidelity Bank were the most active stocks by volume with the sale of 1.2 billion units worth 12.3 billion naira in 3,460 transactions, contributing 53.28% and 56.18% to the volume and total value of transactions. respectively.

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