Stock market rebounds, investors gain N4.57trn despite Dangote IPO

Stock market rebounds, investors gain N4.57trn despite Dangote IPO

By Peter Egwuatu The stock market recorded a strong rebound last week as investors gained over N4.57 trillion on the Nigerian Exchange Limited, NGX, despite the ongoing N2.2 trillion Initial Public Offering, IPO, of Dangote Petroleum Refinery. The market had, the previous week, lost N1.9 trillion following widespread profit-taking across major stocks. Analysts noted that […]

Market Participants Transact N238bn Shares in One Week

By Dipo Olowookere On the floor of the Nigerian Exchange (NGX) Limited last week, market participants bought and sold 3.249 billion shares worth N237.986 billion in 287,919 deals compared with the 3.647 billion shares valued at N130.151 billion traded in 244,777 deals a week earlier. Financial equities dominated the activity chart with 2.581 billion units […]

Fidelity, Sterling, Mutual Benefits Account For 38% Of NGX Weekly Volume

Fidelity Bank Plc, Sterling Financial Holdings Company Plc and Mutual Benefits Assurance Plc accounted for nearly 38 percent of all shares traded on the Nigerian Exchange (NGX) in the week ended September 18. The three companies recorded a combined 1.229 billion shares worth N15.942 billion in 7,796 deals, according to the NGX weekly market report. […]

Dangote IPO fever sends NGX Group shares up 21.6 percent SEC warns investors

Shares of Nigerian Exchange Group Plc (NGX Group) gained 21.6 percent in five trading sessions as the N2.15 trillion Dangote Petroleum Refinery and Petrochemicals initial public offering (IPO) opened on the Nigerian Exchange,