Dangote Cement, Zenith Bank Drive N332bn Gain in Stock Market
Boosted by Gains in Dangote Cement, Zenith Bank, and other risers, the Nigerian Exchange (NGX) recorded positive momentum on Tuesday, as the All-Share Index advanced by 0.31% to close at 165,901.57 points.
The stock market capitalisation surged to N106.49 trillion as investors’ portfolio value increased by ₦332.49 billion on the back of strong investors sentiment.
The market gained due to price appreciation in DANGCEM (+1.42%), and lenders — FIRSTHOLDCO recovered +8.04% from its significant price slump.
Other risers include ZENITHBANK (+2.38%), and WEMABANK (+4.18%), which offset declines in INTBREW (-2.45%) and UBA (-2.93%).
The market breadth was also positive, with 35 gainers outrunning 33 losers. Overall, small-cap companies including AUSTINLAZ (+10.00%), UNIONDICON (+10.00%), ZICHIS (+10.00%), and IMG (+10.00%) were the best performers, while CUTIX (-10.00%) and OMATEK (-10.00%) led the laggards.
Trading activity was mixed, with the number of deals and volume traded declining by 16.88% and 3.45% to 46,026 trades and 736.44 million shares, respectively.
Meanwhile, the value of all transactions conducted in the local bourse rose by 33.98% to ₦24.66 billion, indicating selective accumulation in high-value stocks.
Notably, GTCO topped the volume chart and value chart with 65.9 million units (9.0% of volume traded) trading on the board worth N6.5 billion (26.5% of value traded).
Stockbrokers reported that sectoral performance was mixed. The Insurance (-1.32%) index led this negative charge, followed by the Consumer Goods (-0.23%) and Oil & Gas (-0.17%) indices, which were dragged down by MBENEFIT (-6.25%), INTBREW (-2.45%), and OANDO (-2.38%), respectively.
On the flipside, the Banking (+1.32%), Industrial Goods (+0.69%), and Commodity (+0.21%) indices inched up, supported by gains in FIRSTHOLDCO (+8.04%), DANGCEM (+1.42%), and PRESCO (+1.71%), respectively. Naira Climbs to N1372, Spot Rate Touches N1360 Briefly
