In a statement issued by the management of the Nigerian Stock Exchange (The NSE) shortly after market closed for the week February 23, 2018 showed the Top Three Equities in volume as FBN Holdings Plc, Fidelity Bank Plc and Skye Bank Plc accounted for 567.824 million shares worth N3.456 billion in 4,891 deals, contributing 28.14% and 15.90% to the total equity turnover volume and value respectively
As a result of above dominant trades recorded for the week, the Financial Services Industry followed the path by volume led the trading chart with 1.520 billion shares valued at N12.648 billion traded in 16,225 deals; thus contributing 75.30% and 58.18% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 130.660 million shares worth N6.912 billion in 4,168 deals. While the Oil and Gas Industry’s turnover stood at 130.163million shares worth N251.941 million in 1,420 deals.
The overall total turnover of 2.018 billion shares worth N21.740 billion in 25,496 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.940 billion shares valued at N27.924 billion that exchanged hands last week in 28,567 deals.
Also traded during the week were a total of 111,794 units of Exchange Traded Products (ETPs) valued at N1.806 million executed in 10 deals, compared with a total of 25,586 units valued at N3.004 million that was transacted last week in 11 deals.
A total of 9,963 units of Federal Government Bonds valued at N10.057 million were traded this week in 21 deals, compared with a total of 2,785 units valued at N2.627 million transacted last week in 16 deals
The NSE All-Share Index depreciated by 0.16% to close at 42,570.89 and Market Capitalization closed at N15.277 trillion for the week respectively. Similarly, all other indices finished lower during the week with the exception of the NSE Banking, NSE Insurance NSE CG Indices that rose by 1.52%,1.24% and 0.27% respectively, while NSE ASem closed flat.
The total of twenty-three (23) equities appreciated in price during the week, compared with thirty (30) of the previous week. Fifty-four (54) equities depreciated in price, higher than forty-eight (48) equities of the previous week, while ninety-five (95) equities remained unchanged higher than ninety-four (94) equities recorded in the preceding week.
Meanwhile, the Flour Mills of Nigeria Plc’s Rights Issue has been successful concluded and therefore, notice to Receiving Agents has be sent
According to notice, the acceptance period for Flour Mills of Nigeria Plc Rights Issue ended on Wednesday 21 February 2018 and All Stockbrokers in their capacity as Receiving Agents are required to forward their returns to the Registrars to the Right Issue, Veritas Registrars at Plot 89A, Ajose Adeogun Street, Victoria Island, Lagos not later than Wednesday February28, 2018.
Consequently, an electronic copy of the completed return (in excel format) showing full name and address of each shareholder, total number of shares accepted (including additional shares applied for – if any), value and the amount paid should be delivered to the Registrar in a flash drive or in a CD Rom.
A copy of the electronic returns should also be submitted to any of the Issuing Houses. Returns must include a cheque/bank draft for the total amount payable to the receiving banks and crossed “FMN RIGHTS” and amounts more than N10m should be made electronically into the Offer Proceeds Accounts.
Returns which are not received by close of business on Wednesday, 28 February 2018 may not be accepted.
Also of the week the management of the Nigerian Stock Exchange (NSE) LAUNCHES CG INDEX to Honour Companies and Directors for Passing Corporate Governance Rating Assessment • 437 individuals and 35 companies honoured • Launches Corporate Governance Index Lagos, February 22, 2018. The Nigerian Stock Exchange (NSE or Exchange) and The Convention on Business Integrity (CBi) held a certification ceremony for 35 companies and 437 directors that made it over the 70% threshold for the Corporate Governance Rating System (CGRS) process.
The companies were awarded the CGRS certification while the directors were awarded certificates for success in the Fiduciary Awareness Certification Test (FACT), which is a key component of the CGRS. Another highlight of the event was the launch of the Corporate Governance Index of the NSE.
The Index will track the performance of the 35 CGRS rated companies using their market capitalization, free float and corporate governance rating scores.
The Index will be reviewed on a bi-annual basis at which point other companies that have become CGRS rated in the interim may be added to the Index or companies that have had their ratings suspended or withdrawn may be removed.
The Index is expected to be an important tool for investors keen on investing in well governed companies as well as corporates eager to distinguish themselves on the ground of governance.