As the Nigerian local marketplace opened on a high note on Monday, equities investors won N355 billion. The market capitalisation and the All-Share Index, which monitors market activity, both increased by 0.97 percent to N36.865 trillion and 67,101,33 basis points, respectively. The Nigerian Exchange Limited has benefited from new listings in the last week, despite conflicting feelings.

Chapel Hill Denham Management Limited’s Nigerian Infrastructure Debt Fund (N100 Billion Issuance Program) listed 853,694,759 units of N100 each at N108.39 each on the NGX main board in the last week. In addition, VFD Group listed its complete issued and fully paid 190,027,365 ordinary shares on the NGX’s Main Board for N244.88 per unit.

In terms of trading activity, the daily total of transactions increased by 1.30 percent to 6,911 transactions. However, trade volume and value fell by 28.18 and 61.23 percent, respectively, to 268.66 million and N3.46 billion. Analysts anticipate the market will be neutral this week as investors look for bargains and alter their portfolios in preparation of Q3 corporate earnings announcements.

In addition, investors are looking forward to the Central Bank of Nigeria’s impending monetary policy meeting. Market mood was upbeat, as evidenced by 26 gainers vs 23 losers. BUA Cement led the gainers’ chart with a 10% gain to settle at N103.40.

Nigerian Breweries closed at N42 per unit after its shares climbed 9.09 percent, Dangote Sugar gained 2.65 percent to close at N58 per unit, Oando gained 2.22 percent to close at N9.20, and Transcorp closed at N6.10 after gaining 1.16 percent.

On the losers’ list, Prestige Assurance’s stock fell 10% to N0.45, the NGX Group lost 4.04 percent of its share value to N22.55, Unity Bank fell 3.03 percent to N0.96 per unit, and non-interest bank, Jaiz Bank, which recently applied to the NGX for the approval and listing of a rights issue of 5,408,356,536 ordinary shares, fell 3.03 percent to N1.60 per unit.

Gabriel Eleojo Umoru
Gabriel Eleojo Umoru
I'm Gabriel Eleojo Umoru, a graduate of Mass Communication from Prince Abubakar Audu University (formerly Kogi State University Anyigba, Kogi State). My hobbies include writing, surfing the internet and listening to music. I'm into voice editing and project management. I also help people out in their research projects.

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