Stock market gains N226bn as week opens, rallies by 9.15% in January

Nigeria’s equities market opened this week on a positive note, thanks to investors who bought shares of Presco Plc, NGX Group Plc, NCR Plc, BUA Cement Plc, and Custodian Investment Plc.

Also on the buy-side include Julius Berger Plc, MTNN Plc, GTCO, Guinness Nigeria Plc, GSK Plc, UBA Plc, and others. The nation’s stock market ended January with record increase by 9.15percent.

Top on Monday’s gainers list are Presco Plc which increased most from N87.80 to N96.55, up N8.75 or 9.97percent; NGX Group Plc which rose from N21.15 to N23.25, adding N2.10 or 9.93percent; and NCR Nigeria Plc which increased from N3 to N3.30, up by 30kobo or 10percent.

At the close of trading session on Monday, January 31, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose by 0.91 percent from 46,205.05 points to 46,624.67 points while the value of listed stocks on the Nigerian Bourse increased from N24.898trillion to N25.124trillion, rising by about N226billion.

Fidelity Bank, RT Briscoe, Transcorp, FBN Holdings and Linkage Assurance were most traded stocks on the Nigerian Exchange. In 6,482 deals, investors exchanged 435,799,401 units valued at N3.441billion.

Read also: NGX lists FGN multi-tranche $4bn Eurobonds

Also, the Nigerian Exchange Limited (NGX) on Monday listed the Federal Government of Nigeria (FGN) $4billion FGN Eurobonds on its platform. The Eurobonds were issued in three tranches as follows: 6.125percent FGN SEP 2028 worth $1.250billion; 7.375percent FGN SEP 2033 worth $1.5billion; and 8.25percent FGN SEP 2051 worth $1.25billion.

The bonds were issued via the Debt Management Office with Chapel Hill Denham Advisory Limited acting as Domestic Book runner and FSDH Merchant Bank Limited as Financial Adviser.

NGX continues to thrive as a multi-asset securities exchange providing access to a diversified range of assets including equities, fixed income, Exchange Traded Products (ETPs). In 2021, NGX facilitated capital raising of over N7.13trillion across asset classes for both public and private corporations.

Furthermore, through its vast network of Trading License Holder Firms and an integrated trading platform, NGX provides institutional and retail investors access to one of the most liquid markets in Sub-Saharan Africa.