DANGOTE, 28 OTHERS LIFT STOCK MARKET TO N375BN GAIN
The Nigerian equity market on Tuesday closed on a positive rout as Dangote Cement Plc led other gainers to sustain positive market trend. The market breadth closed positive, recording only seven losers as against 29 gainers. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 3.12 per cent as market sentiments remained on positive rout.
Consequently, the All-Share Index gained 20.66 basis points or 3.12 per cent to close at 23,809.31 as against 23,089.86 recorded the previous day while the market capitalisation of equities appreciated by N375bn or 3.12 per cent to close at N12.408tn from N12.033tn as market sentiment remained on the green zone. Meanwhile, a turnover of 345.18 million shares exchanged in 4,689 deals was recorded in the day’s trading. Premium subsector was the most active (measured by turnover volume), with 123.59 million shares exchanged by investors in 1,947 deals.
Volume in the subsector was largely driven by activities in the shares of Zenith Bank Plc and Access Bank Plc. Banking subsector boosted by activities in the shares of GTBank Plc and Fidelity Bank Plc followed with a turnover of 109.55 million shares in 913 deals. Dangote Cement Plc led the gainers’ table with a gain of 10 per cent to close at N143.00 per share while Neimeth Pharmaceuticals Plc followed with a gain of 9.26 per cent to close at 59 kobo per share. Prestige Assurance Plc added 9.09 per cent to close at 60 kobo per share.
On the other hand, May and Baker Plc led the price losers’ table, dropping 10 per cent to close at N2.43 per share. NPF MFB Plc followed with 9.60 per cent to close at N1.13 per share while Linkage Insurance s Plc trailed with a loss of 9.43 per cent to close at 48 kobo per share.