Gains in Dangote Cement lift capitalisation to N448bn
By Philemon Adedeji
Nigerian equities extended gains for the second consecutive session driving by gains recorded in gains in DANGOTE CEMENT (+6.67 per cent), Guaranty Trust Holding Company (GTCO) (+1.47 per cent), and ACCESS CORPORATION (+1.83 per cent) outweighed losses in ZENITH BANK (-3.39 per cent), STANBIC IBTC (-6.86 per cent) and United Bank of Africa (UBA) (-1.43 per cent) keeping the market in the positive terrain.
The NGX All-Share index (ASI) rose by 823.37 basis points to represent 1.31 per cent to close at 63,766.72 absolute points from 62,943.35 absolute point it closed trade on Monday
Absolutely, the ASI’s year-to-date (YTD) return rose to 24.42 per cent, while the market capitalisation gained N448.34 billion to close at N34.721 trillion from N34.273 trillion it closed for previous trading trade.
The market’s upward trajectory was primarily propelled by the strong performance of key stocks such as Dangote Cement, Honey flour, Nem Insurance, NPF Microfinance Bank and others.
Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 209.54 per cent.
As measured by market breadth, market sentiments closed positive as Honey Flour led 50 gainers on the advancers table, while Japaulgold led 20 losers on the laggards log.
The trade volume increased by 22.4 per cent to close at 868,802,725 million shares valued at N42.806 billion were exchange at 8,970 deals.
On the advancers table, Honey Flour, Nem Insurance and NPF Microfinance Bank led the gainers by 10.00 per cent each increased to close at N3.30, N5.94, N1.87 per share respectively.
Eternal Oil which came as the last fourth gainer rose by 9.92 per cent to close at N26.05 per share, while PZ Cussion which recorded as the last fifth gainer went up by 9.88 per cent to close at N17.80 per share.
However, on the Negative side Japaulgold topped the losers with 10.00 per cent to close at N0.81 per share, closely followed by FTNcocoa Processor which suffered 9.84 per cent lost to close at N2.29 per share, while Courtville Business Solution went down by 8.64 per cent to close at N0.74 per share.
Sovereign Insurance which recorded as the last fourth loser dipped by 8.16 per cent to close at N0.45 per share
NSL tech which came as the last fifth loser went down by 8.11 per cent to close at N0.34 per share.
Transaction in the shares of First City Monument Bank topped the activities chart with 153.879 million shares worth N956.074 million, Japaulgold which followed traded 110.533 million shares worth N90.947 million, while Dangote Cement transacted 104.882 million shares valued at 3.581 trillion.
Access Corporation transacted 49.543 million shares value at N849.239 million
Fidelity Bank transacted 41.906 million shares worth N312.593 million.
