The Nigerian Exchange (NGX) Limited market value rose by 6.10% on Monday, October 14 as Aradel Holdings Plc introduced its N3 trillion market capitalisation company to Nigeria’s main stock market.
Data showed that the NGX All-Share Index (ASI) advanced by 0.62%, while the market capitalization surged by 6.10%.
Investors King reports that the performance indicators were boosted due to the listing of Aradel Holdings Plc’s 4,344,844,360 Ordinary Shares of 50 kobo each at N702.69 Per Share on the exchange.
The All-Share Index advanced by 608.50 basis points in today’s trading session, reflecting a 0.62% increase to close at 98,215.13 points.
The market breadth closed negative, recording 19 gainers and 31 losers. But the sectoral performance was positive as three of the five major market sectors rallied.
Coronation Insurance was the best-performing equity after it jumped by 10.00% to 88 Kobo, The Initiates increased by 9.74% to N2.14, Consolidated Hallmark gained 9.35% to close at N1.52, MeCure Industries went up by 8.91% to N11.00, and NASCON rose by 6.67% to N32.00.
On the flip side, Vitafoam Nigeria finished the day as the worst-performing stock after it dropped 9.09% to sell for N20.00, Tantalizers tumbled by 8.33% to 55 Kobo, Integrated Energy Insurance slumped by 6.37% to N1.47, Secure Electronic Technology shrank by 6.15% to 61 Kobo, and Guinea Insurance moderated by 6.12% to 46 Kobo.
During the session, 305.0 million equities valued at N19.7 billion exchanged hands in 8,083 deals compared with the 304.4 million equities worth N5.6 billion traded in 6,950 deals last Friday, indicating a rise in the trading volume, value and number of deals by 0.20%, 251.79% and 16.30%, respectively.
Cutix closed the day as the most active stock for selling 37.9 million units worth N95.2 million, Zenith Bank traded 34.1 million units for N1.3 billion, UBA transacted 33.9 million units valued at N897.8 million, Chams exchanged 18.8 million units worth N38.2 million, and Aradel Holdings sold 18.7 million units for N14.5 billion.
The banking sector grew by +0.36%, followed by the Insurance sector, which gained +0.29% while the Consumer goods sector inched higher by +0.24%.
The Oil & Gas and Industrial sectors declined moderately by 0.02% and 0.01%, respectively.
The market will be looking to Nigeria’s inflation figure for September due to be released on Tuesday (October 15).
