The NGX opened the week on a strong note, extending its gains to three consecutive sessions, as the NGX All-Share Index (NGX-ASI) advanced by 1.20% to close at 244,199.39 points. Market capitalisation also rose by 1.23% to NGN157.74 trillion, translating to an estimated NGN1.91 trillion increase in investors’ wealth.

The difference between the 1.20% gain in the NGX-ASI and the 1.23% increase in market capitalisation was notably influenced by fresh share listings during the session. Coronation Insurance listed an additional 4.53 billion ordinary shares from its private placement, while Sterling Financial Holdings listed 2.57 billion additional shares from its private placement. Sovereign Trust Insurance and Sunu Assurances also listed 2.51 billion and 2.08 billion additional shares, respectively, following their rights issues.