NGX

Nigeria will, on Monday, September 21, return to the FTSE Russell Frontier Market universe, ending a three-year period in which its equities were excluded from the global index provider’s frontier-market classification.

The inductees completed the Exchange’s 15-day Automated Trading System Brokers’ Certification Programme, which covers market structure, trading procedures, regulatory compliance and the operational framework of the Nigerian capital market.

Equity market capitalisation increased from ₦159.89 trillion to ₦162.16 trillion, while the All-Share Index advanced 1.42% to 249,804.56 points, according to Nairametrics’ closing-market report.

Nigeria’s equities market closed the week on a positive note on Friday, with market capitalisation rising by ₦2.27 trillion as buying interest across several stocks lifted the benchmark NGX All-Share Index.

The ASI opened at 244,791.79 and closed at 246,315.38, while market capitalisation rose from ₦158.714 trillion at the opening to ₦159.892 trillion at the close.

Dangote spoke on Monday at the Facts Behind the Offer presentation and Opening Gong Ceremony for the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE at the Nigerian Exchange in Lagos.

Nigeria allotted approximately ₦1.60 trillion in government bonds at its September auction, with more than half allocated outside competitive bidding.

The ASI opened at 243,299.24 and closed at 244,304.51, representing a gain of 1,005.27 points or 0.41 percent.

Claims that Dangote Refinery attracted nearly ₦1.5 trillion in early IPO subscriptions trace to a Nigerian Exchange Group (NGX) social media update that was subsequently deleted, leaving questions about what the widely circulated figures measured.

Market capitalisation stood at N158.33 trillion at the end of July before rising to a record N160.42 trillion on August 10. The market subsequently came under sustained selling pressure, with the All-Share Index (ASI) recording 10 consecutive losing sessions.