Dangote, WAPCO surge equities market by N333.80bn

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The Nigerian Stock Exchange (NSE) equities market witnessed a positive run as the market capitalization appreciated by N333.80 billion to commence trading for the week.

The All-Share Index (ASI) increased by 1.74 per cent to close at 37,443.40 basis points.

Similarly, the overall market capitalization size gained N333.80 billion to close at N19.57 trillion.

Today’s market upturn was impacted by gains recorded in large and medium capitalized stocks, amongst which includes; Dangote Cement Plc, WAPCO, and Flour mills of Nigeria plc.

Also, the total volume traded increased to 427.05 million shares, worth N3.30billion, traded in 5,258 deals.

Transactions in the shares of Mansard Insurance Plc topped the activity chart with 90.1 million shares valued at N91.08 million. Japaul Gold Plc followed with 45.4 million shares worth N16.8 million.

With 23 gainers to 23 losers, sectoral indices closed mixed. Dangote Cement  (+9.98per cent) led the gainer’s chart for the day, while Eterna Plc (-9.89 per cent) finished top loser.

The NSE Industrial Index led the gainers with 5.46 per cent. The NSE Insurance and Energy Indexes trailed appreciating by 5.16 and 0.76 per cent respectively. Conversely, the NSE Banking & Consumer Goods Indexes declined by -1.05 and -0.14 per cent.

Analysts at InvestmentOne research said, “The equities market closed up today due to the gains recorded in the Industrial and Oil & Gas sectors.

“Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns amidst a low interest-rate environment. Nonetheless, we reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.”