Equities market rises by 1.58% on Dangote Cement, NASCON shares appreciation


The Nigerian Stock Exchange (NSE) equities market segment rose by 1.58 per cent on Thursday to maintain four consecutive trading days of positive returns on gains in Dangote Cement Plc, NASCON Allied Industries and 27 companies  other shares.

In summary, the NSE All-Share Index (NSE ASI) gained 606.82 absolute points, representing a growth of 1.58 per cent to close at 39,042.11 basis points.

Similarly, the market capitalization gained N220 billion to close at N14.142 trillion.

Accordingly, the market Month-to-Date and Year-to-Date gains improved to 2.46per cent and 2.09 per cent, respectively.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, NASCON Allied Industries,  Lafarge Africa, International Breweries and Stanbic IBTC.

Sector performance revealed that NSE Industrial Index: advanced by 3.72per cent, due to the 4.74 per cent gain in WAPCO and four per cent increase in Dangote Cement share price.

NSE Consumer Goods Index closed positive by 1.03 per cent, on the back of gains in Cadbury Plc (+4.78 per cent), Dangote Flour Plc (+3.92 per cent), Intbrew (+3.81per cent), Dangote sugar Plc (+2.08per cent) and NB (+1.03per cent).

NSE Banking Index also gained 0.14per cent, following the buy interest in Ecobank Transnational Incorporated Plc (+4.47per cent).

NSE Oil & Gas Index sheds 0.46per cent, largely driven by the profit-taking in Eterna Plc Plc (-4.96per cent) and Seplat Petroleum (-0.68per cent).

Analysts at APT Securities and Funds Limited said that gains so far continue to be dominated by big capitalised stocks in Industrial, Consumer Goods and Banking sector, saying “we expect the market to end the trading week bullish.”

Market indicators closed positive, with 29 gainers against 19 losers. Nascon Allied Industries recorded the highest price gain of 10.07 per cent, to close at N22.40 per share.

Japaul Oil Plc followed with a gain of 7.41 per cent to close at 29 kobo, while Cadbury Nigeria Plc appreciated by 4.78 per cent to close at N12.05 per share.

CI Leasing Plc rose by 4.76 per cent  to close at N1.54, while Lafarge Africa Plc gained 4.74 per cent to close at N39.80 per share.

On the other hand, Eterna led the losers’ chart by 4.96 per cent, to close at N6.90, while Continental Reinsurance shed 4.67 per cent to close at N1.43, per share.

Prestige Assurance and RT Briscoe depreciated by 4.17 per cent each to close at 46 kobo each, per share, while Niger Insurance declined by 3.85 per cent to close at 26 kobo, per share.

The total volume traded appreciated by 25.16 per cent to 490.05 million shares, worth N7.62 billion, and traded in 4,726 deals. Transactions in the shares of Wapic Insurance topped the activity chart with 118.39 million shares valued at N62.63 million.

Guaranty Trust Bank Plc followed with 106.1 million shares worth N4.46 billion, while Diamond Bank traded 33.73 million shares valued at N54.9 billion.

FBN Holdings  Plc traded 30.75 million shares valued at N338.1 million, while Fidelity Bank transacted 27.75 million shares worth N64.2 million.


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