Suleiman buys 7,882,228 shares in Sterling bank, NGX All-Share Index ends the week strong, up 3.00% w/w

Abubakar Suleiman, a Non-Executive Director of Sterling Financial Holdings Company Plc, has purchased an additional 7,882,228 units of shares in the company worth N27 million. This was disclosed via an official statement on notice of Directors Dealings signed by Company Secretary Temitayo Adegoke and sent to the Nigerian Exchange. Meanwhile, Nigerian equities closed the day 1.47 per cent stronger, bringing the All-Share Index to settle at 67,527.19 points, the highest point since 05 March 2008. The market was buoyed today by gains in industrial heavyweight, DANGCEM, alongside ZENITHBANK and GTCO. Having gained in four (4) of five (5) trading sessions this week, the ASI closed 3.00% higher w/w. 

Over the course of the week, strong performances across DANGCEM w/w), BUAFOODS and ZENITHBANK outweighed the selloffs in MTNN (-0.04% w/w), NESTLE and STANBIC. As a result, the year-to-date (YTD) return rose to 31.76%, while the market capitalisation gained ₦1.08 trillion w/w to close at ₦36.96 trillion. Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 3.69%. A total of 503.75m shares valued at ₦6.92bn were exchanged in 7,606 deals. TRANSCORP (+9.88%) led the volume chart with 83.31m units traded while DANGCEM (+2.72%) led the value chart in deals worth ₦1.55bn.

Market breadth closed positive at a 3.40-to-1 ratio with advancing issues outnumbering declining ones. DANGSUGAR (+10.00%) topped thirty-five (35) others on the leader’s table while GLAXOSMITH (-6.47%) led nine (9) others on the laggard’s log.

Find below key highlights of market activities

Dividend Information for 2023

Source: Coronation