Nigerian Exchange Crosses N82trn as BUA, Dangote Cement Rally
The Nigerian Exchange (NGX) crossed N82 trillion as heavyweights like Dangote, BUA Cement, and others rallied; investors reacted positively to disinflation. The Nigerian domestic market closed the trading session in the green, as key market performance indicators gained 0.92%.
Despite a negative market breadth driven by profit-taking in some recently appreciated stocks, strong buying interest in blue-chip stocks such as BUACEMENT, DANGCEM, FIRSTHOLDCO, and others helped sustain the market’s bullish momentum.
Stockbrokers said the renewed demand wiped off the bearish touch seen during trading activities and extended the market’s winning streak to 11 consecutive sessions.
The market index increased by 1,180.49 basis points to close at a new all-time high of 130,147.57 points, representing a 0.92% gain.
However, market activities went down today as the total volume and total value of all trades dropped by 89.89% and 88.36%, respectively.
In its market note, Atlass Portfolio Limited told investors that approximately 1,179.35 million units valued at ₦42,296.33 million were transacted across 37,094 deals.
In terms of volume, ACCESSCORP led the activity chart, accounting for 14.13% of the total volume of trades, followed by FIRSTHOLDCO (7.26%), ZENITHBANK (7.00%), NB (5.76%), and AIICO (5.48%), rounding out the top five.
ZENITHBANK emerged as the most traded stock in value terms, accounting for 14.73% of the total value of all trades consummated on the exchange.
BUACEMENT topped the advancers’ chart for today with a price appreciation of 10.00 percent, trailed by DANGCEM (+9.99%), CHAMS (+9.96%), FIRSTHOLDCO (+9.94%), ABCTRANS (+9.85%), EUNISELL (+9.76%) and twenty-three others.
Forty-six stocks depreciated, according to data from the Nigerian Exchange. HMCALL, MECURE, BERGER, JOHNHOLT, MAYBAKER and RTBRISCOE were the top losers, with a price depreciation of -10.00% each.
Other decliners include FTNCOCOA (-9.97%), NEIMETH (-9.90%), CONHALLPLC (-9.76%), UBA (- 8.91%), and GTCO (-7.87%).
Today, the market breadth closed negative, recording 29 gainers and 46 losers. In addition, the market sectoral performance was negative today.
Three out of the five major market sectors went down, led by the banking sector, which dropped by -2.34%, followed by the insurance sector, which declined by -0.89%, and the oil & gas sector, which lost 0.61%. The industrial and consumer goods sectors grew by +9.08% and +0.54%, respectively.
Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦746.78 billion to settle at ₦82.33 trillion, also marking a 0.92% increase. #Nigerian Exchange Crosses N82trn as BUA, Dangote Cement Rally#
