- As MTNN, DANGCEM, fail to pull market cap
THIS is a season of joining forces to deepen the Nigerian market as The Nigerian Exchange Limited (“NGX” or “The Exchange”) and CFA Society Nigeria are set to host a series of workshops and training aimed at building the capacity of market participants and deepening liquidity for derivatives products in the Nigerian capital market.
The first in the series of workshops, themed “Derivatives and the Nigerian Capital Market”, will hold on Wednesday, 23 March 2022 via Zoom.
According to the Exchange, the virtual workshop will bring together key players across Nigeria’s financial industry such as institutional and retail investors, Asset Managers, PFAs, Regulators, Banks, and other Capital Market Operators.
The discussion will center on the role of Derivatives in the Nigerian capital market and how to drive participation of both domestic and foreign investors in the derivatives market.
In addition, the workshop will help market stakeholders better understand Exchange Traded Derivatives products as tools for managing price volatility risk in the Nigerian capital market.
Some of the confirmed speakers for the event include Temi Popoola, CEO, NGX; Ibukun Oyedeji, CFA, President, CFA Society Nigeria; Rufus Kariuki Gitau, CFA, Business Development Manager, Nairobi Securities Exchange; Farooq Adedayo Oreagba, Partner, Karaho Capital Partners, and Klaus Paester, CFA, Senior Director Institutional Relations EMEA Region, CFA.
Others include Jayesh Mehta CFA, FRM, CA (SA) Consultant; Russel Jude, CFA, FRM, CA (SA) Program Head, EDGE Designations and Fola Abimbola, CFA, Frontier Africa Research, Standard Bank Group.
Meanwhile, on the trading floor of the Nigerian Exchange, MTN Nigeria (MTNN) and Dangote Cement couldn’t pull the market capitalisation northward as both key indicators recorded a decline with a marginal drop of 0.02 percent respectively.
MTNN yesterday was the most active stock in terms of turnover with N961.428 million worth of shares exchanged in 233 deals. This stock which is the number three most capitalized equity with N4.173 trillion due to cooperate action traded 4.690 million shares and closed with a price it opened with, without recording any price change.
Dangote Cement occupied the 10th position of the top ten most active by turnover with N149.508 million. This stock just like MTNN recorded an unchanged price movement with a market capitalization of N4.661 trillion occupying the position of the second most capitalized stock after Airtel Africa Plc with N4.735 trillion as of the most capitalized equity on the exchange.
In all, the market capitalization dropped by N6 billion to close at N25.521 trillion followed by the All-Share Index drop of 11.24 points to close at N47,353.22 basis points. Investors traded a total of 239.732 million shares worth N3.892 billion across 3,848 deals.
Market capitalization for the bond ad ETF stood at N21.581 trillion and N7.220 billion.
