…Investors’ wealth rises by N163b in three trading days
The Securities and Exchange Commission (SEC) has received financing from the African Development Bank (AFDB) to strengthen its regulatory capacity, especially in the areas of investor protection and minimising systemic risk.
The grant from the AfDB Group/Capital Markets Development Trust Fund is to finance risk-based supervision framework implementation and capacity development project.
According to the SEC, the principal objectives of the project are to provide technical assistance and capacity building on selected areas of the commission’s operations, support implementation of risk-based supervision framework, improve the securities markets regulatory environment and broadening of market instruments.
The commission stated that the mode of procurement to be adopted for the project, is Quality and Cost Based (QCBS), while the risk-based supervision framework implementation component would involve the development of best practise risk-based supervision inspection manuals, tools and guidelines for the market.
Meanwhile, the Nigerian Exchange Limited (NGX) close higher for the third consecutive trading sessions, despite losses that outweighed gains yesterday, as investors’ wealth increased by N163 billion in three trading days
Specifically, the market capitalisation of listed equities, which stood at N20.411 trillion on Tuesday, gained N163 billion to close at N20.574 yesterday. Also, the All-Share Index (ASI) appreciated by 313.44 points or 0.8 per cent from 39,176.62 to 39,490.06.
Yesterday, investors traded 570.203 million shares valued at N2.282 billion in 3764 deals against 181.417 million shares worth N2.089 billion in 3599 deals.
On the price movement chart, 24 stocks depreciated in price while eight constituted the gainers’ chart. HoneyWell Flourmills led the gainers’ chart with 10 per cent to N1.87 kobo while Wema Bank followed with a gain of 3.95 per cent to close at 79 kobo.
Flour Mills Nigeria Plc added 3.18 per cent to close at N29.90 kobo. AIICO Insurance gained 2.11 per cent to close at 97 kobo. GTCO Plc increased by 1.07 per cent to close at N28.40 kobo.
On the contrary, STS REIT topped the losers’ chart, shedding 9.99 per cent to close at N61.75 kobo while Tripple G trailed with a loss of 9.28 per cent to close at N0.88 kobo.
Regal Insurance fell by 8.51 per cent to N0.43 kobo, Prestige Insurance down by 8.33 per cent to close at N0.44 kobo, Japaul Gold dipped by 7.84 per cent to close at N0.47 kobo.
The result further showed that Honey Well Flour was the toast of investors during the day, exchanging 384.071 million shares valued at N654.159 million.
Vitafoam Nigeria Plc followed with an account of 21.366 million shares worth N331.210 million, FCMB traded 13.602 million shares cost N42.706 million, Japaul Gold exchanged 12.857 million shares worth N6.360 million while Sterling sold a total of 12.029 million shares valued at N18.500 million.