Equities market regains momentum, adds 0.90% over investors interest in Dangote Cement, 21 others
The equities market of the Nigerian Exchange Limited (NGX) on Wednesday recorded its first positive performance this week as buying interest in Dangote Cement Plc and 21 others drove the All-Share Index 0.90 per cent higher.
The All Share Index (ASI) rose by 479.17 basis points or 0.90 per cent to close at 53,603.80 basis points. Accordingly, investors gained N261 billion in value as market capitalisation went up to N29.201 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Zenith Bank, Lafarge Africa, PZ Cussons Nigeria and Oando.
As measured by market breadth, market sentiment was positive, as 22 stocks gained relative to 14 losers. Oando recorded the highest price gain of 9.84 per cent to close at N4.91 per share. Caverton Offshore Support Group followed with a gain of 8.08 per cent to close at N1.07, while Ikeja Hotel rose by 7.77 per cent to close at N1.11 per share.
Transnational Corporation (Transcorp) went up by 7.14 per cent to close at N1.50, while Dangote Cement appreciated by 5.07 per cent to close at N290.00 per share.
On the other hand, May & Baker Nigeria led the losers’ chart by 8.70 per cent to close at N4.20 per share. Consolidated Hallmark Insurance followed with a decline of 8.06 per cent to close at 57 kobo, while R.T. Briscoe Nigeria went down by 7.69 to close at 24 kobo per share.
FTN Cocoa processors lost 7.14 per cent to close at 26 kobo, while Chemical and Allied Products (CAP) shed 5.79 per cent to close at N17.90 per share.
The total volume traded increased by 16.4 per cent to 236.067 million units, valued at N3.259 billion, and exchanged in 3,907 deals.
Transactions in the shares of Transcorp topped the activity chart with 91.391 million shares valued at N134.236 million. Zenith Bank followed with 27.087 million shares worth N696.206 million, while Guaranty Trust Holding Company traded 22.072 million shares valued at N551.453 million.
United Bank for Africa (UBA) traded 16.577 million shares valued at N132.760 million, while Sterling Bank transacted 11.980 million shares worth N19.100 million.