Amaechi Raphael Chinedu
@Official_ARC·20h
Two heavyweights lifted the NGX on Friday. This week, an IPO closes and results keep coming
Friday's close first: the All-Share Index rose 0.92% to 247,222.27, adding about ₦1.47trn in market value and ending a weak week on its best level. Volume jumped 69.57% to 611.66m shares. The move was narrow but heavy: 
$DANGCEM hit the 10% daily limit to close at ₦1,111, and First HoldCo also gained 10% to ₦144.10. Because the index is weighted by company size, two big names were enough to turn the whole market green.
Three things worth watching this week:
1. The Dangote Refinery IPO closes tomorrow, Tuesday Oct 27, at ₦525 per share, and the company says there will be no further extension. It reported nine-month revenue of $22.5bn and a net profit of $4.73bn, up from a loss a year ago. Listing on the NGX is expected in November, and like any share, the price can move above or below the offer price once it trades.
2. The exchange itself reported. 
$NGXGROUP posted a nine-month profit after tax of ₦14.69bn, up 86.44%, on revenue of ₦27.26bn (up 79.79%). One detail worth noticing: the third quarter alone came in at ₦4.33bn, slightly below the ₦4.66bn of Q3 last year, so the year-to-date jump was built mostly in the first half.
3. Can Friday's rally hold? When a market rise rests on one or two heavyweights, the next sessions often show whether buying spreads to other stocks or fades. Watch whether gainers start to outnumber losers.
Add your portfolio on Gopexly to see how your own holdings compare with the index.
Not financial advice.
$DANGCEM hit the 10% daily limit to close at ₦1,111, and First HoldCo also gained 10% to ₦144.10. Because the index is weighted by company size, two big names were enough to turn the whole market green.
Three things worth watching this week:
1. The Dangote Refinery IPO closes tomorrow, Tuesday Oct 27, at ₦525 per share, and the company says there will be no further extension. It reported nine-month revenue of $22.5bn and a net profit of $4.73bn, up from a loss a year ago. Listing on the NGX is expected in November, and like any share, the price can move above or below the offer price once it trades.
2. The exchange itself reported. $NGXGROUP posted a nine-month profit after tax of ₦14.69bn, up 86.44%, on revenue of ₦27.26bn (up 79.79%). One detail worth noticing: the third quarter alone came in at ₦4.33bn, slightly below the ₦4.66bn of Q3 last year, so the year-to-date jump was built mostly in the first half.
3. Can Friday's rally hold? When a market rise rests on one or two heavyweights, the next sessions often show whether buying spreads to other stocks or fades. Watch whether gainers start to outnumber losers.
Add your portfolio on Gopexly to see how your own holdings compare with the index.
Not financial advice.0 views
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