Amaechi Raphael Chinedu

@Official_ARC·1h

Banks pulled NGX down ₦407bn. 3 things on the radar this week

Monday's close: the NGX All-Share Index slipped 0.25% to 247,736.24, and about ₦407bn came off total market value (now ₦160.85trn). Zoom out, though, and the index is still up 59.20% this year. Trading also got busier, with volume up about 26% to 405m shares. Here's what's worth watching this week: 1. Do the banks steady? Bank stocks led Monday's drop. AC$ACCESSCORP fell 4.24% to ₦28.25 and ZE$ZENITHBANK fell 4.23% to ₦129.00, and they were also two of the most traded stocks. When the heaviest names move, the whole index feels it. 2. Stanbic IBTC's dividend date is Thursday. $STANBIC ₦4.50 interim dividend goes to shareholders on the register at close of business on Oct 15. The qualification date decides who gets paid, not the payment date (Nov 13). 3. The Dangote Refinery IPO got two more weeks. The offer of 4.1bn shares at ₦525 was due to close today, but SEC approved an extension to Oct 27, with listing on NGX expected in November. Monday's top gainers: Neimeth +10% (₦7.70), UPDC REIT +10% (₦26.40), Guinness Nigeria +9.93% (₦423). Biggest losers: Sunu Assurances -9.85% (₦2.93) and Oando -7.55% (₦33.65). Holding any of these? Add them to your Gopexly portfolio to see how each day's moves hit your own money. Not financial advice.