The Nigerian Stock Exchange on Tuesday launched the NSE premium Board with pioneer listing of Dangote Cement Plc, FBN Holdings Plc, and Zenith International Bank Plc.
The premium board and the associated premium index (a new listing platform) aims to provide a platform for greater global visibility for eligible African corporations to make it easier for them to attract global capital flows and reduce the cost of funding.
The Premium board index on the other hand, is an equity index designed to provide a benchmark to capture the performance of companies listed on the premium board. Designed to a four year average return of 17.65% versus the All Share Index return of 11.31% over the same period, it would serve as a benchmark for investors looking to track the performance of large firms with excellent corporate governance and sustainable business models.
The All Share Index of the Nigerian Stock Exchange continued its slide as today’s session ended on a negative note with a 1.39% loss on the back of continued capital flight and loss of investor confidence. The ASI closed at 28,807 basis points, with the Market Capitalization closing at N9.9 trillion.
The total value of transactions increased by 5.30% from the N2.7 Billion worth of shares traded yesterday. The number of deals recorded reduced by 3.74% from 4,247 deals recorded yesterday, while the volume of transactions recorded surged by 134.36% up from 257,737,058 shares traded yesterday.
RESORTSAL, UBA, TRANSCORP, GUARANTY and ZENITHBK were the most active to boost market turnover on the exchange today.
Market breadth closed in the negative as STANBIC led 6 Gainers against 38 Losers led by NB.
Year-To-Date stands at -16.88%
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