The domestic equities market yesterday recorded its third consecutive gain this week driven by sustained bargain hunting in Dangote Cement Plc and 46 others.
The All Share Index (ASI) rose by 2,092.15 points, representing a gain of 2.38 per cent to close at 90,063.25 points. Also, market capitalisation appreciated by N1.145 trillion to close at N49.284 trillion.
The uptrend was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Geregu Power, Dangote Cement, BUA Foods, BUA Cement and Guinness Nigeria.
Market breadth closed positive as 47 stocks gained relative to 35 decliners. AIICO Insurance, SUNU Assurance, Guinness Nigeria, Honeywell Flour Mills and Wema Bank recorded the highest price gain of 10 per cent each to close at N1.54, N1.76, N71.50, N4.84 and N11.66 respectively, per share.
BUA Cement followed with a gain of 9.99 per cent to close at N123.90, while May & Baker Nigeria appreciated by 9.98 per cent to close at N6.83, per share. On the other hand, R.T. Briscoe Nigeria led the losers’ chart by 10 per cent to close at 81 kobo, per share. Dangote Sugar Refinery followed with a decline of 9.95 per cent to close at N73.30, while Nigerian Exchange Group lost 9.84 per cent to close at N22.90, per share.
Red Star Express depreciated by 9.47 per cent to close at N4.11, while Sterling Financial Holdings Company declined by 9.09 per cent to close at N6.90, per share.
The total volume of trades increased by 19.3 per cent to 1.30 billion units, valued at N16.38 billion, and exchanged in 17,471 deals.
Transactions in the shares of Sterling Financial Holdings Company topped the activity chart with 106.141 million shares valued at N800.259 million. Japaul Gold & Ventures followed with 101.122 million shares worth N268.795 million, while Transcorp traded 90.466 million shares valued at N1.577 billion.
Jaiz Bank traded 83.116 million shares valued at N321.467 million, while Unity Bank sold 73.415 million shares worth N237.656 million.
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