The Nigerian Exchange Limited gained N230 billion last week as more stocks closed in the green.

The market value of listed stocks and the Nigerian Exchange Limited All-Share Index expanded by 1.11 percent to close the week at N20.41 trillion and 39.156.28 index points, respectively.

Investors traded 1.06 billion shares valued at N12.8 billion in 17,854 transactions during the week, against a total of 1.08 billion shares worth N9.55 billion were traded in 17,933 transactions in the previous week.

In terms of volume traded, the financial services industry led the activity table with 714.677 million shares estimated at N5.95 billion traded in 9,718 transactions. Therefore, contributing 67.53 percent and 46.38 percent to the total equity turnover volume and value traded, respectively.

This was followed by the consumer goods industry with 97.18 million shares estimated at N3.29 billion in 3,006 transactions.

In third place was the ICT industry with a turnover of 75.99 million shares valued at N583.72 million in 679 deals.

The top three most traded stocks (measured by volume) were Zenith Bank Plc, Sterling Bank Plc and Fidelity Bank Plc. The three accounted for 261.34 million shares valued at N2.71 billion and traded in 2,862 deals. The top three most traded equities in the week contributed 24.70 percent and 21.13 percent to the total equity turnover volume and value.

During the week, 35 stocks closed in the green, against 33 posted in the previous week. A total of 36 equities rose as against 33 equities in the previous week, while 89 equities remained unchanged as against 94 in the previous week.

The equities market in Africa’s largest economy, Nigeria, extended its bullish trend on Thursday as the Exchange closed in the green amid rising renewed interest in the market.

Investors traded 158.366 million shares valued at N2.236 billion in 3,330 transactions during the trading hours of Thursday.

The Nigerian Exchange Limited All-Share Index gained 0.10 percent to close at 39,210.1 index points while the market value of all stocks grew to N20.437 trillion on Thursday.

The renewed interest followed weeks of bearish trends that trailed the market amid a broad-based profit-taking that encompasses the market after a prolonged bullish trend recorded in 2020 and Q1 2021 despite COVID-19.

Link Assurance led gainers with 9.09 percent to settle at N0.60 per share. This was followed by PZ’s 7.14 percent to close the day at N6 per share. See the details below.

Top Gainers

Top Losers 

Top Trades

Airtel Africa on Thursday announced the default currency and options on currency election for the proposed 2.5 cents per ordinary share final dividend recommended by the Board.

The leading telecommunications and mobile money services company said the currency exchange rates that will be applicable in determination of the final dividend payment to any shareholders that qualify for and have elected to receive the final dividend payment in U.S. dollars, GB pounds or Nigerian naira will be as follows:

Arrangements for Shareholders that hold their shares on the London Stock Exchange (LSE):

• Shareholders that hold their shares on the London Stock Exchange may elect to receive their entire dividend payment in GB pounds or U.S. dollars.

• Partial elections are not permissible.

• Holders electing to receive a dividend should specify a choice of currency by completing the Currency Election Form and return to Computershare Investor Services plc.

• Shareholders holding their shares on the LSE who do not indicate their currency of choice before 12 July 2021 will receive their dividends in U.S. dollars.

• The closing date for the dividend currency election to the Company’s Registrars Computershare Investor Services plc in the UK is 12 July 2021.

• Currency election forms can be obtained by contacting the Company’s Registrars, Computershare Investor Services plc, on the Company’s dedicated telephone line: +44 (0)370 7030027.

Arrangements for Shareholders that hold their shares on the Nigerian Exchange Limited (NGX):

• Shareholders that hold their shares on the Nigerian Exchange Limited may elect to receive their entire dividend payment in Nigerian naira or U.S. dollars.

• Partial elections are not permissible.

• Holders electing to receive a dividend in U.S. dollars should complete the Currency Election Form and return to Coronation Registrars Limited or email to eforms@coronationregistrars.com.

• Shareholders holding their shares on the NGX who do not indicate their currency of choice before 12 July 2021 will receive their dividends in Nigerian naira.

• The closing date for the dividend currency election to the Company’s Registrars Coronation Registrars Limited in Nigeria is 12 July 2021.

• Currency election forms can found on the website of the Company’s Registrar www.coronationregistrars.com or this direct link: https://coronationregistrars.com/currencyelection-form/

The following currency exchange rate will be applicable in the determination of the final dividend payment to any shareholders that qualify for and have elected to receive the final dividend payment:

Exchange Rate

1 USD = 410.95 Nigerian naira
1 USD = 0.7068 GB pounds

The exchange rate for the Nigerian naira or GB pounds amounts payable was determined by reference to the exchange rates applicable to the U.S. dollar available on 9 June 2021.