Nigerian stock exchange gains 1.75 trillion naira
By the AFREEQUE newsroom, based on Daily Post
The capitalisation of the Nigerian stock exchange rose by 1.75 trillion naira to reach 164.91 trillion, while the benchmark index gained 1.07% at Tuesday’s close. The rise, driven notably by Dangote Cement, came as the Dangote refinery’s IPO at 525 naira per share ended, Daily Post reports.
The capitalisation of Nigerian Exchange Limited, Nigeria’s stock exchange, rose by 1.75 trillion naira on Tuesday to reach 164.91 trillion naira, compared with 163.16 trillion during the previous session. The market rose on the day the initial public offering of the Dangote refinery closed, according to Daily Post.
The NGX All-Share Index gained 1.07% to 253,990.06 points, while the year-to-date return reached 63.22%. Dangote Cement supported the rise with a gain of 9.80%, to 1,341.90 naira per share, Daily Post reports.
The rise in the index did not, however, affect all stocks: 20 shares advanced, while 36 fell. The session recorded 35,946 transactions involving 5.23 billion shares, worth 441.47 billion naira. Volumes jumped by 1,488.14% and trading value by 1,634.62% compared with the previous session.
The Dangote refinery offering involved 4.1 billion ordinary shares at 525 naira each. The extended subscription period ended on Tuesday 27 October, according to Daily Post.
