The Nigerian Exchange Limited (NGX) marked the final trading day of the year on 30 December 2022 with a Closing Gong Ceremony featuring renowned filmmaker Kemi Adetiba.
Adetiba, the founder of Kemi Adetiba Visuals and director of critically acclaimed movies “Wedding Party” and “King of Boys,” which was later adapted by Netflix, had the honour of closing the market for the year on the trading floor of the Exchange. During the ceremony, NGX CEO Temi Popoola spoke about the exchange’s impressive year, despite facing global macroeconomic challenges and volatility.
“It’s been a relatively good year for NGX from a global perspective, with a positive 19.98% return,” said Popoola. “We’ve also seen several landmark listings in equity and fixed income, including BUA Foods and Geregu Power, which have played a key role in driving growth in the market this year.”
Popoola went on to praise Adetiba for her exceptional contributions to the entertainment industry. “Kemi Adetiba has truly put Nigeria on the map with her incredible movie successes,” said Popoola. “We’re excited to explore partnerships with the entertainment industry to catalyse its growth and bring even more success to the country.”
Adetiba expressed her gratitude for the invitation from NGX and spoke about the impact the Nigerian entertainment industry has had on the country’s image. “The Nigerian entertainment industry has brought so much pride and recognition to our country,” said Adetiba. “International brands like Netflix are starting to invest in the industry, and it’s having a major impact on how the world sees Nigeria. I’m honoured to be a part of this vibrant and talented industry.”
NGX is dedicated to driving youth participation in the capital market and recognising the talents of young, creative individuals like Adetiba. The Exchange’s invitation to Adetiba to close the market for the year demonstrates NGX’s commitment to supporting and uplifting the next generation of investors and entrepreneurs.
The stock market had a strong day of trading, with the NGX All-Share Index rising by 1.89% to 51,251.06 points. This increase in the overall value of the index was driven by a gain of N518.01bn in the market capitalisation of stocks, which hit N27.92tn.
Investors traded a total of 890.68 million shares, worth N7.36bn, in 3,566 deals. The daily volume of trades increased by 81.59%. The top performers on the market were Presco Plc, Caverton Offshore Support Group Plc, AIRTEL Africa Plc, CWG Plc, and Morison Industries Plc, which all saw their stock prices rise by at least 9.60%. Presco Plc had the biggest gain, with its stock price increasing by 10.00%.