Registered securities on FMDQ hit N3.36tr as index rises by N1b

FMDQ Securities Exchange Limited has announced that the admission of Union Bank of Nigeria’s ₦100.00 billion Commercial Paper (CP) Programme on its platform will bring the total number of registered securities (CPs, corporate bonds, sukuk, eurobonds, supranational bonds and funds) in 2022 to 110 with a total market value of ₦3.36 trillion.

Speaking at the occasion, FMDQ said the registration of this CP Programme, which is sponsored by UCML Capital Limited (Lead Sponsor), Standard Chartered Capital & Advisory Nigeria Limited and Renaissance Securities (Nigeria) Limited, tactically positions the bank to raise short-term finance from the Nigerian debt markets easily and quickly at a time in the future it determines suitable, through CP issues, within the CP Programme limit.

The exchange expressed commitment to continue to support the efficient allocation of capital by providing a credible platform for capital formation and effective intermediation towards fostering economic growth and development.

It added that it would continue to fulfill its market development, organiser, and governance mandates, by providing a cost-effective, efficient, well-regulated, transparent, and trusted platform where the raising and transfer of capital can take place, whilst adding value to its diverse stakeholder groups.

Meanwhile, transactions on the Nigerian Exchange Limited (NGX) closed in an upbeat yesterday, as market capitalisation inched marginally by N1 billion.

Specifically, at the close of transactions yesterday, market capitalisation of listed equities increased marginally by N1 billion or 0.003 per cent to N26.768 trillion from N26.767 trillion reported the previous day. The All Share Index was also up by 2.01 basis points to 49627.72 points from 49625.71 points traded the previous day.

Multiverse led the gainers’ table during the day, gaining N9.69 per cent to close at N2.83, NPF Microfinance Bank followed with a gain of 7.84 per cent to close at N1.65, Pharm Deko added 5.13 per cent to close at N2.05, Cutix Plc added 5.12 per cent to close at N2.26, Fidelity Bank gained 3.02 per cent to N3.41.

On the contrary, Redstarex topped the losers’ chart, shedding 10 per cent to close4 at N2.43, Caverton trailed with a drop of 4.55 per cent to close at N1.05, Livestock Feeds fell by 4.31 per cent to close at N1.11, Sovereign Trust Insurance down by 3.70 per cent to close at N0.26, Lasaco Insurance also fell by 3.13 per cent to close at N0.93.

Zenith Bank was the most active stock during the day, exchanging 26.736 million shares valued at N536.647 million, Courteville Business Solutions followed with account of 24.102 million shares cost N11.328 million, Transnational Corporation of Nigeria exchanged 16.249 million shares valued at N16.991 million, International Energy Insurance sold 12.768 million shares cost N20.429 million, Chams traded 9.314 million shares cost N3.224 million

Analysts at Vetiva Dealing and Brokerage said: “We expect a similar trade pattern tomorrow, as investors continue to cherry pick counters across board amid low market turnover.”

In all, investors exchanged N1.487 billion on 160.243 million shares in 3847 deals, as against 86.594 million shares worth N1.170 billion that exchanged hands the previous day in 3377 deals.