Dangote Cement and 36 other stocks, yesterday pushed the equities segment of the Nigerian Stock Exchange (NSE) northward when they recorded significant appreciation in their share prices as the All Share Index (ASI) gained 926.39 basis points or 2.38 per cent to close at 39,849.65 points.
Similarly, market capitalisation gained N330 billion to close at N14.181 trillion. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Mobil, Guinness, Conoil and Nigerian Breweries.
Analysts at Afrinvest Limited noted that “in line with expectation, market performance was positive yesterday as investor sentiment remained strong. Hence, we expect the trend to be sustained in subsequent trading sessions against the backdrop of a broad based rally across sectors.”
Market breadth was positive, with 37 gainers versus eight losers. Conoil recorded the highest price gain of 10.24 per cent, to close at N32.41 per share. Unity Bank gained 9.68 per cent to close at 68 kobo, while Cadbury appreciated by 8.65 per cent to close at N16.84 per share.
Cutix went up by 6.67 per cent to close at N2.24, while Dangote Cement appreciated by five per cent to close at N234.26 per share. On the other hand, Vitafoam Nigeria led the losers’ chart by 4.92 per cent, to close at N3.09 per share. CI Leasing shed 4.90 per cent to close at N1.36, while DN Meyer depreciated by 4.29 per cent to close at 67 kobo per share.
Aiico Insurance down by 3.51 per cent to close at 55 kobo and NPF Micro Finance Bank went down by 2.92 per cent to close at N1.33 per share. However, total volume traded depreciated by 19.7 per cent to 604.53 million shares, worth N16.17 billion, and traded in 5,769 deals. Transactions in the shares of Transcorp topped the activity chart with 115.19 million shares valued at N203.28 million.
Nigerian Breweries followed with 88.29 million shares worth N12.36 million, while Diamond Bank traded 82.72 million shares valued at N162.32 million. FCMB Groups traded 41.16 million shares valued at N80.1 million, while FBN Holdings transacted 40.49 million shares worth N379.13 million.
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