The campaign will be launched at a virtual event scheduled to hold on Tuesday, May 18.
Industry leaders, including Aliko Dangote and Tony Elumelu, are to speak at the launch of the Nigerian Exchange Group (NGX Group)’s The Stock Africa Is Made Of campaign on Tuesday, May 18, 2021.
NGX Group is set to launch The Stock Africa Is Made Of Campaign to project its positioning and commitment to the African financial markets as a leading capital market infrastructure provider, connecting Nigeria, Africa and the world.
The campaign will be launched at a virtual event scheduled to hold on Tuesday, May 18, 2021, with Dangote and Elumelu as speakers.
Other industry leaders expected to speak at the event include Otunba Abimbola Ogunbanjo, Group Chairman, NGX Group Plc; Zainab Ahmed, Honourable Minister of Finance, Budget and National Planning, Federal Republic of Nigeria; Lamido Yuguda, CFA, Director-General, Securities and Exchange Commission; Masai Ujiri, President, Toronto Raptors; Temi Popoola, CFA, Chief Executive Officer (CEO), NGX; and Tinuade Awe, CEO, NGX Regulation (NGX RegCo) Limited. The event will be moderated by veteran Master of Ceremonies, Ik Osakioduwa.
The Stock Africa Is Made Of comes on the back of the successful demutualisation of The Nigerian Stock Exchange which led to the emergence of NGX Group Plc and its three subsidiaries – Nigerian Exchange (NGX) Limited, NGX Regulation (NGX RegCo) Limited and NGX Real Estate (NGX RelCo) Limited.
The Stock Africa Is Made Of serves to amplify NGX Group’s new brand identity and spotlight the growth potential of the African continent.
“The Stock Africa Is Made Of is designed to reinforce the message that we are fully equipped and better positioned to champion the development of new and improved experiences for the benefit of domestic, regional and foreign stakeholders,” the Group Chief Executive Officer, NGX Group Plc, Oscar N. Onyema, OON said while commenting on the campaign.
“Built around the new corporate identity, the campaign emphasises the vibrancy and dynamism of NGX Group and its subsidiaries.
“It provides stakeholders with an immersive experience through creative messaging and opportunities for direct engagement with the brand.
“Our goal is not only to celebrate this pivotal point in our journey but to also show our stakeholders that we are ready and able to explore new frontiers in our quest to be the partner and platform of choice for meeting their business, financial and investment objectives.”
Nigerian music veteran 2baba and singer Chike will perform at the event.
Nigerian Stock Exchange Bounces Back, Gains N132 Billion in Market Cap
The Nigerian Exchange Limited rebounded on Wednesday with the market capitalization surging by N132 billion.
This uptick was propelled by the positive performance of key stocks, including Seplat Energy (+10%), Meyer Plc (+9.79%), Sunu Assurance (+9.56%), Nestle (+9.52%), and Consolidated Hallmark Holdings Plc (+9.24%).
The All-Share Index closed rose by 0.34% to 71,283.34 points, reflecting investors’ optimistic sentiment, particularly in medium and large-cap stocks with solid fundamentals while the market capitalization increased to N39.007 trillion.
Despite a decline in total deals and volume by 19.14% and 32.55% to 6,579 deals and 360.60 million units respectively, the total value for the day increased by 17.64% to N6.61 billion.
Among the gainers, Seplat, Meyer, Sunu Assurance, Nestle Plc, and Consolidated Hallmark Holdings Plc stood out, closing at N2.310, N3.59, N1.49, N1.150, and N1.30 per unit, respectively, after gains ranging from 10% to 9.24%.
The losers’ chart was led by Guinea Insurance, down 10%, followed by Omatek (-9.88%), Abbey Mortgage Bank (-9.68%), Neimeth Pharma (-9.45%), and Tantalizer (-8.62%).
Performance across sectors was predominantly bullish, with the Insurance, Consumer Goods, Oil/Gas, and Industrial Goods indexes recording notable advancements of 1.17%, 0.89%, 6.06%, and 0.01%, respectively.
However, banking stocks emerged as the only laggard for the day, declining by 0.56%.
GT Bank (GTCO) dominated trading activities, emerging as the most traded security in terms of volume and value, with 56.91 million units worth N2.19 billion traded in 261 deals.
This positive momentum signals a renewed fervor in the Nigerian stock market.
Market Sheds N132 Billion as Union Bank Bows Out from NGX Official List
The official delisting of Union Bank of Nigeria from the Nigerian Exchange Limited (NGX) on Monday triggered a notable N132 billion loss from the market capitalization.
NGX Regulations Limited, the regulatory arm of the Nigerian Exchange Group, confirmed the delisting in a notice to trading license holders.
Union Bank’s shares were suspended on November 14, leading to the delisting, which resulted in a market cap loss.
On its last day on the NGX Daily Official List, Union Bank had a market cap of N193.65 billion, with shares closing at N6.65 per unit.
Titan Trust Bank Limited, Union Bank’s core investor, had earlier announced plans to acquire minority shareholders’ shares, leading to the delisting.
Despite the delisting impact, the All-Share Index closed positively at the end of Monday’s trading, rising by 0.17% or 123.33 points to 71,353.81.
However, the market cap closed at N39.040 trillion, N132 billion lower than the N39.172 trillion recorded on the previous Friday.
Key performers in the market included AccessCorp, United Bank for Africa, Zenith Bank Plc, and Universal Insurance Plc.
Positive investor sentiments resulted in 32 gainers and 20 losers. Notable gainers included First Bank of Nigeria Holding, John Holt, and Tantalizer, each gaining 10%.
ETranZact led the losers’ chart with a 9.09% dip, and Unity Bank, amidst reported business combination talks with Providus Bank, landed on the losers chart with a 9.24% loss.
The volume of transactions on the NGX slightly increased to 746.67 million units from 582.77 million units traded on Friday.
Banking stocks, including AccessCorp, UBA, and Zenith Bank, were the major drivers of the day’s trend, accounting for volume and value in the market.
Nigerian Stock Market Records Marginal Decline, MTN and Dangote Sugar Lead Losers
The Nigerian Exchange Limited witnessed a marginal downturn as market capitalization slipped by N35 billion on Wednesday.
The All-Share Index and Market Capitalization both depreciated by 0.09% to close at 71,003.98 points and N39.047 trillion, respectively.
Despite this dip, market breadth remained positive with 36 gainers and 15 losers.
Major contributors to the decline included MTN Nigeria (-0.63%), Dangote Sugar (-1.64%), Lafarge Africa Plc (-1.34%), United Bank for Africa (-0.24%), and FBN Holdings (-4%).
Gainers were led by RT Briscoe, Daar Communications, and Unity Bank, each posting a 10% gain. Meanwhile, MeCure Industries, Multiverse, and Secure Electronic Technology saw increases of 9.96%, 9.82%, and 9.52%, respectively.
On the downside, C&I Leasing, Prestige Assurance, International Breweries Plc, UPDC Real Estate Investment Trust, and FBN Holdings recorded losses of 7.58%, 7.55%, 5.56%, 4.60%, and 4%, respectively.
Sectoral performance varied, with the Banking and Insurance sectors posting marginal gains of 0.19% and 0.75%.
In contrast, the Consumer Goods and Industrial Goods sectors experienced losses of 0.19% and 0.08%, while the Oil/Gas index remained unchanged.
Market activity showed improvement, with total deals rising by 1.95% to 6,677 trades. The total traded value for the day surged by 128.85% to N7.37 billion, although the total volume declined by 12.81% to 428.44 million units.
Veritaskap led in trading volume, while MTN Nigeria dominated in terms of value, amounting to N2.81 billion.
The fluctuation in market indices underscores the dynamic nature of the Nigerian stock market, influenced by both local and global economic factors.
Investors are carefully navigating these shifts to optimize their portfolios in a constantly evolving market landscape.
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