NGX Nears N54Trn as Cement Names Rally

The Nigerian Exchange gained about N1.6 trillion Tuesday to settle at about N54 trillion as cement names recorded positive price movements, supported by interest in Seplat Energy and others.

Consequent to the sustained buying interest, the equities market ended in green, extending the market’s positive run to nine consecutive trading days. Stockbrokers’ records showed equities market key performance indicators grew by +2.97% ahead of the prediction that the local bourse would surge further.

Atlass Portfolios Limited said in its market update that the bourse’s positive stance was due to investors’ renewed buying interest in DANGCEM, SEPLAT, BUACEMENT, and others. Data from the Exchange showed that the market index or All-Share Index increased by 2,848.85 basis points today, representing a rise of +2.97% to close at a new high of 98,616.97.

Based on the trading pattern, market activities inched higher. Total volume and total value traded however dropped by +3.56% and +12.97% respectively. Stock market analysts said in an update that approximately 747.51 million units valued at ₦16,276.24 million were transacted in 16,589 deals.

TRANSCORP was the most traded stock in terms of volume, accounting for 10.42% of the total volume of trades. The conglomerate was followed by STERLINGNG (9.69%), UBA (7.06%), ACCESSCORP (6.32%), and ZENITHBANK (4.29%) to complete the top 5 on the volume chart.

DANGCEM was the most traded stock in value terms, accounting for 19.11% of the total value of trades on the exchange. BUACEMENT and SEPLAT topped the advancers’ chart for today with a price appreciation of 10.00 per cent each.

These stocks were trailed by DANGCEM with (+9.99%) growth, ETERNA (+9.92%), ETERNA (+9.92%), MEYER (+9.88%), TRIPPLEG (+9.79%), and eleven others. Fifty-seven stocks depreciated, according to market data.

Ticker: MBENEFIT, DEAPCAP, JOHNHOLT, MAYBAKER, PZ, TIP, and VERITASKAP were the top losers, with a price depreciation of -10.00% each. On the loser chart were: TRANSCORP (-9.99%), JAIZBANK (-9.97%), CHAMS (-9.73%), UNILEVER (-9.45%), and FCMB (-7.83%).

Data from the Exchange showed that the market breadth closed negative, recording 17 gainers and 57 losers. On the other hand, the market sector performance was positive. NGX Crosses N52Trn as Dangote Cement Rallies

Three of the five major market sectors ended positive, led by the Industrial sector which grew by +8.96%, followed by a 5.56% gain posted by the Oil & Gas sector while the Consumer goods sector added +1.88%.

The Insurance and Banking sectors were down by -4.68% and -2.66% accordingly. Overall, the equities market gained ₦1.56 trillion to close at ₦53.97 trillion.

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