Dangote, Aradel Boost NGX Rally, Investors Gain N1.4Trillion
Equities investors gained N1.4 trillion on Monday in the Nigerian Exchange (NGX) as Dangote Cement, Aradel Holdings, UBA, and other risers drove momentum.
The local bourse market opened the week on a positive note, as key market performance indicators (the NGX-ASI and Market Capitalization) both appreciated by 1.29%.
Picking up the gaining streaks, the market witnessed continued investors’ positive trading sentiment after a more than N4 trillion surge in market capitalisation last week.
Stockbrokers said bargain hunting persisted in mid-cap and blue-chip stocks, including Dangote Cement, ARADEL, TRANSCORP, FCMB, UBA, DANGSUGAR, among others, across key market sectors.
The industrial sector appreciated by 4.76% as the market index added 2,218.73 basis points in today’s trading session, reflecting a 1.29% increase to close at 173,946.22. The stock market capitalisation increased by ₦1,424.24 billion, representing a growth of 1.29%, settling at ₦111.66 trillion.
However, market activities were down today as the total volume of all trades and the total value of all transactions declined by -18.72% and -35.21%, respectively.
Stock analysts reported that approximately 775.18 million units valued at ₦27,915.68 million were transacted across 65,960 deals.
ACCESSCORP topped the volume chart, accounting for 8.70% aggregate volume traded, followed by ZENITHBANK (5.99%), NSLTECH (5.69%), VERITASKAP (5.10%), and MBENEFIT with 4.39%.
ZENITHBANK accounted for 12.34% of the total value of all trades executed today, thereby making it the highest traded on the exchange.
Top performers include CAP, MAYBAKER, and DAARCOM,M led by generating +10.00% each, then trailed by RTBRISCOE (+9.98%), DEAPCAP (+9.97%), NAHCO (+9.97%), ZICHIS (+9.97%), UNIONDICON (+9.96%), and fifty others.
Dangote Cement Plc gained 8.81% as investors increased bets on industrial names amidst earnings season, and dividend declaration expectations.
A total of twenty-sixstocks depreciated. With a price depreciation of -9.98%, EUNISELL topped the worst performers’ chart, followed by TRIPPLEG (-8.90%), ABBEYBDS (-8.03%), AUSTINLAZ (-7.41%), HMCALL (-6.56%), and NSLTECH (-6.25%). Hence, the market breadth closed on a positive note as there were 58 gainers and 26 losers.
Sectoral performance was positive. The Industrial goods sector increased by +4.76%, followed by the Oil & Gas sector (+1.29%), and the Consumer goods sector (+0.74%). The Banking sector and the Insurance sector declined by -0.04% and -0.03% respectively. Money Market Rates Fall, Banks Step Up Cash Lodgment with CBN
