Dangote Cement Lifts Stocks Market, Gains N67bn

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By OLUSHOLA BELLO, Lagos –

Activities on the Nigerian stocks market appreciated yesterday to begin the week, following the gains recorded in Dangote Cement Plc.

The All Share Index (ASI) gained 192 absolute points, representing a growth of 0.52 per cent to close at 37,312.28 points. The market capitalisation appreciated by N67 billion, representing to close at N12.914 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Forte Oil, Okomu Oil, Glaxosmith and Nascon.

However, market breadth was negative, with 16 gainers versus 24 losers. Forte Oil recorded the highest price gain of 8.78 per cent, to close at N47.97 per share. Okomu Oil followed with a gain of 4.60 per cent to close at N67.99, while NEM Insurance appreciated  by 4.44 per cent, to close at N1.41 per share.

Dangote Cement went up by 3.93 percent, to close at N238, while AIICO Insurance rose by 3.77 per cent to close at 55 kobo per share.

On the other hand, CI Leasing led the losers’ chart by 4.79 per cent, to close at N1.59 per share. Caverton followed with a decline of 4.76 per cent to close at N1.60, while Vitafoam depreciated by 4.75 per cent to close at N2.81 per share.

Honeywell Flour declined by 4.72 percent, to close at N2.02 and Learn Africa declined by 4.63 per cent to close at N1.03 per share.

Also, the total volume traded appreciated by 91.89 per cent to 336.34 million shares, worth N30.02 billion, and traded in 3,778 deals.

Transactions in the shares of Dangote Cement topped the activity chart with 128.92 million shares valued at N27.08 billion. FBN Holdings followed with 77.56 million shares worth N554.89 million, while Fidelity Bank traded 15.9 million shares valued at N26.75 million.

Diamond Bank traded 14.29 million shares valued at N16.48 million, while Guinness sold 9.9 million shares worth N1.01 billion.