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NGX
Trading activities on the NGX returned to bearish territory as the All-Share Index declined by 0.02% to 67,206.16 points.
NGX says the global derivatives market is poised for significant growth, projected to reach $39.17 billion by 2027.
After days of bearish runs, the equities market returned to positive territory as the All-Share Index gained 0.5% to hit 67,217.77 points.
The bearish sentiment at the NGX continued Monday, October 23, 2023, as the All-Share Index (ASI) fell by 0.06% to 66,876.92 points.
NGX has fined thirteen quoted companies N90.690 million for failure to file their quarterly interim financial statements after the due date.
Trading activities on the Nigerian equities market finished the week on the bearish note as the NGX All-Share Index fell by 0.42% WoW to close at 66,915.41 points.
The NGX All-Share Index closed at 66,915.41 points, a 0.27% decline from the 67,098.81 points recorded yesterday.
According to data tracked by Nairametrics from the Nigerian Exchange Limited (NGX), the NGX banking index, which gauges the performance of listed banking firms, has seen an impressive growth of 59.57%.
The current success of the market is mainly driven by the financial services sector, while other sectors like Fast-Moving Consumer Goods (FMCG) face challenges.
While investors and shareholders eagerly anticipate Jaiz Bank's Q3 results, which are expected later this month, the bank's capacity to either beat or miss its earnings forecasts has emerged as a critical determinant in influencing shareholders' value, particularly considering the planned Rights Issue.
Shareholders in tier 1 banks recorded a combined gain of N1.296 trillion during the first nine months of 2023.
Jaiz Bank Plc has submitted an application to Nigerian Exchange Limited for the approval and listing of a Rights Issue of 5.4 billion ordinary shares of N0.50 each at N1.00 per share.