The Nigerian equities market capitalization yesterday crossed the N82 trillion mark, driven by a rally in key stocks such as BUA Cement Plc and Dangote Cement Plc.
The All-Share Index (ASI) gained 1,316.79 points, representing a gain of 1.02 per cent to close at 130,283.87 points. Also, market capitalisation rose by N833 billion to close at N82.418 trillion.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Dangote Cement, BUA Cement, NASCON Allied Industries, Cadbury Nigeria and First Holdco.
On market outlook, Afrinvest Limited said, “we anticipate a modest performance on the bourse, as selective buying offsets profit booking.”
However, investor sentiment, as measured by market breadth closed negative as 30 stocks gained, while 46 lost. BUA Cement emerged the highest price gainer of 10 per cent to close at N112.20, per share.
Dangote Cement followed with a gain of 9.99 per cent to close at N473.30, while Chams Holding Company up by 9.96 per cent to close at N3.09, per share.
First Holdco rose by 9.94 per cent to close at N35.40, while ABC Transports appreciated by 9.85 per cent to close at N5.69, per share. On the other side, Haldane McCall, MeCure Industries, Berger Paints, John Holts, May & Baker Nigeria, RT Briscoe led others on the losers’ chart with 10 per cent each to close at N4.68, N11.70, N33.75, N9.00, N15.30 and N3.42 respectively, per share.
FTN Cocoa processors shed 9.97 per cent to close at N6.32, while Academy Press lost 9.96 per cent to close at N7.50, per share.
The total volume traded dipped by 89.8 per cent to 1.193 billion units, valued at N42.756 billion, and exchanged in 37,418 deals. Transactions in the shares of Access Holdings led the activity with 168.099 million shares worth N4.622 billion. First Holdco followed with an account of 86.416 million shares valued at N3.045 billion, while Zenith Bank traded 83.357 million shares valued at N6.292 billion.
Nigerian Breweries traded 68.567 million shares worth N5.084 billion, while AIICO Insurance traded 65.251 million shares worth N139.267 million.
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