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NGX market capitalisation increases by N192bn on NGX Group listing

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The Nigerian Exchange Group (NGX Group) listing lifted the market capitalisation of Nigerian Exchange Ltd (NGX) by N192 billion.

Our correspondent reports that NGX Group listed a total of 1.96 billion shares at N16.15 per share by way of introduction on the NGX on Friday.

Consequently, the market capitalisation which opened at N21.432 trillion increased by N192 billion or 0.89 per cent to close at N21.624 trillion.

Also, the NGX All-Share Index appreciated by 308.17 points to close at 41,438.15 from 41,129.98 on Thursday.

A breakdown of the price movement chart showed that Presco led the gainers’ table, gaining N4 to close at close at N89 per share.

BUA Cement followed with N2 to close at N67.50, while Total added N1 to close at N193 per share.

FBNHoldings was up by 95k to close at N12.70 per share.

On the other hand, Lafarge Africa Wapco dominated the laggards’ chart, shedding N1.20 to close at N24.10 per share.

Africa Prudential trailed with 25k to close at N6.65, while UPL lost 10k to close at N1.50 per share.

Sterling Bank dipped 5k to close at N1.52, while Fidelity Bank was also down by 5k to close at N2.74 per share.

In all, investors traded 728.96 million shares valued at N8.53 billion in 4,852 deals.

This was against a total of 908.06 million shares worth N10.97 billion achieved in 5151 deals on Thursday.

FBNHoldings remained the most traded stock, exchanging 476.55 million shares valued at N592.86 million.

Universal Insurance followed with 39.69 million shares worth N8.33 million, while GTCO traded 33.17 million shares valued at N972.38 million.

Fidelity Bank sold 21.87 million shares worth N59.77 million, while Transcorp accounted for 20.79 million shares valued at N20.44 million.

Chinyere Joel-nwokeoma

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour.The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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