Equities Investors Gain N2.6trn as Dangote Cement, FirstHoldco Rally
Equities investors on the Nigerian Exchange (NGX) gained more than N2.6 trillion as Dangote Cement, FirstHoldco, Aradel, and other mid- and large-cap stocks gained momentum.
The local bourse opened the week bullish, with key market performance indicators up 1.65%. The Industrial Goods sector led the rally, gaining 5.37% and reflecting renewed buying interest in recently moderated stocks.
DANGCEM (+10.00%), FIRSTHOLDCO (+7.56%), ARADEL (+2.48%), and GTCO (+2.54%). However, sentiment was weak, with market breadth at 0.80x, as 30 decliners, led by ABCTRANS (-9.59%), outweighed 24 advancers led by DANGCEM (+10.00%).
The All-Share Index advanced 4,068.27 basis points in today’s trading session, up 1.65% to close at 251,290.54. Likewise, Market capitalisation surged by ₦2,641.49 billion to close at ₦163.16 trillion.
Total Volume of all shares traded fell by 46.13%, while the transaction value of executed trades rose by 9.98%. In its market update, Atlass Portfolio Limited told investors that approximately 329.53 million units valued at ₦25,450.32 million were transacted across 43,700 deals
ZENITHBANK drove volume, accounting for 7.91% of all shares traded, followed by UBA (7.32%), ACCESSCORP (5.50%), FIDELITYBK (5.35%), and FIRSTHOLDCO (4.39%).
DANGCEM was the value driver, accounting for 25.17% of total trade value and making it the most traded on the exchange.
DANGCEM also led the gainers chart, up +10.00%, followed by HONYFLOUR (+9.78%), ROYALEX (+9.18%), NGXGROUP (+8.20%), FIRSTHOLDCO (+7.56%), AFRIPRUD (+5.88%), and eighteen others.
A total of thirty stocks depreciated. ABCTRANS led the worst performers with a -9.59% price depreciation, followed by CAVERTON (-9.38%), LIVESTOCK (-9.09%), CHAMPION (-8.16%), PZ (-7.61%), and DAARCOMM (-7.59%).
Hence, market breadth closed negative, with 24 gainers and 30 losers. Sectoral performance was positive today, with four of the five major market sectors up.
The Industrial goods sector led at +5.37%, followed by Banking (+2.34%), Oil & Gas (+0.88%), and Insurance (+0.67%). Only the Consumer goods sector declined by 0.06%.
#Equities Investors Gain N2.6trn as Dangote Cement, FirstHoldCo Rally European Markets Rise, U.S. Stocks Dip on AI Financing Scrutiny
