Despite recording declines in two out of the five trading sessions held during the weekend February 14, 2025, equities transactions on the Nigerian Exchange Limited recorded a positive trajectory leading to investors’ gain of N1.826 trillion.
Detailed analysis of stock performance revealed that the week’s gains were driven by investors’ interest in shares of Dangote Cement which rose by 21.8 percent, Transnational Corporation up by 11.1 percent, MTN Nigeria gained 3.6 percent and Transcorp Hotels Plc added 10.0 percent.
At the close of trading on Friday, the market benchmark index, NGX All-Share Index and Market Capitalization appreciated by 2.00 percent and 2.78 percent to close the week at 108,053.95 and N67.418 trillion as against 105,933.03 and N65.592 trillion respectively in the previous week resulting in creation of additional N1.826 trillion in the value of equities listed in the market.
Similarly, all other indices finished higher with the exception of NGX Main Board, NGX Banking, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, NGX Consumer Goods and NGX Oil and Gas which depreciated by 0.79 percent, 0.24 percent, 0.39 percent, 1.26 percent, 1.03 percent, 3.63 percent and 2.30 percent respectively while the NGX Sovereign Bond index closed flat.
During the week under review, a total turnover of 2.414 billion shares worth N55.512 billion in 80,988 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.051 billion shares valued at N98.350 billion that exchanged hands last week in 72,535 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.398 billion shares valued at N24.039 billion traded in 31,919 deals; thus, contributing 57.92 percent and 43.30 percent to the total equity turnover volume and value respectively.
The Services industry followed with 247.303 million shares worth N1.165 billion in 6,277 deals.
Third place was the Consumer Goods Industry, with a turnover of 153.776 million shares worth N3.939 billion in 8,405 deals.
Trading in the top three equities namely Sterling Financial Holdings Company Plc, Access Holdings Plc and Secure Electronic Technology Plc (measured by volume) accounted for 455.469 million shares worth N5.273 billion in 6,654 deals, contributing 18.87% and 9.50% to the total equity turnover volume and value respectively.
Overall, Sixty five (65) equities appreciated in price during the week, higher than fifty eight (58) equities in the previous week.
Thirty-one (31) equities depreciated in price, lower thirty four (34) in the previous week, while fifty-four (54) equities remained unchanged, lower than fifty eight (58) recorded in the previous week.
New listing
During the week under review, the NGX listed additional 9,673,336,214 ordinary shares of 50 Kobo each of Zenith Bank Plc on its Daily Official List.
Listing follows Zenith Bank Plc’s hybrid offer of Rights Issue of 5,232,748,964 ordinary shares of 50 Kobo each at N36.00 per share (The Rights Issue was 100% subscribed) and Offer for Subscription of 4,440,587,250 ordinary shares of 50 Kobo each at N36.50 per share (the Public Offer was 160.47% subscribed).
With this listing of the additional 9,673,336,214 ordinary shares of 50 Kobo each the total issued and fully paid-up shares of Zenith Bank Plc has now increased from 31,396,493,786 to 41,069,830,000 ordinary shares of 50 Kobo each.
Suspension of trading in shares of Thomas Wyatt Nigeria Plc
In another development, the NGX announced the suspension of trading in the shares of Thomas Wyatt Nigeria Plc (the Company) from its facilities, effective Tuesday, February 11, 2025 for not filing their Audited Financial Statements for the year ended March 31, 2024 and Unaudited Financial Statements for the periods ended June 30, 2024 and September 30, 2024.
The notification from the NGX stated that the action is in pursuant to the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules).
The quoted rules states that: “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period1, The Exchange will: a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; b) Suspend trading in the Issuer’s securities; and c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty four (24) hours of the suspension.
“In accordance with the Default Filing Rules set forth above, the suspension of trading in the shares of the Company shall be lifted upon the submission of the relevant financial statements.”
