Stockholders Gain N253bn as Dangote, MRS Shares Rally
The equities segment of the Nigerian Exchange was lifted higher by more than N253 billion on Thursday as shares of Dangote Cement, and MRS Oil rallied along with others. Consequently, key performance indicators inched upward by +1.07% as stockholders’ position in growth companies’ stock while year-to-date advanced.
Data from the Lagos bourse indicates that the All-share index popped higher by 465.34 basis points to close at 43,942.82 points, thus pushing market valuation upward from the previous day’s close.
The Nigerian Exchange (NGX) reported that market capitalisation printed at ₦253.45 billion on Thursday, a growth of +1.07% to close at ₦23,934.47 trillion from ₦23,681.02 trillion the previous day.
The year-to-date gain of the Nigerian Exchange All-Share Index jumped to 2.87% despite the fact that the domestic bourse recorded 16 losers as opposed to 15 gainers at the close of today’s session
Market activities were up as well, according to Atlass Portfolios Limited as the total volume and total value traded for the day increased by 203.58% and 71.01% accordingly.
Citing trading results from the local bourse, stockbrokers reported that approximately 405.00 million units valued at ₦3,096.53 million were transacted in 3,188 deals.
STERLNBANK was the most traded stock in terms of volume, accounting for 42.26% of the total volume of trades. The tier-2 bank shares were followed by ACCESSCORP (19.45%), TRANSCORP (9.08%), GTCO (5.90%), and ZENITH BANK (4.24%) to complete the top 5 on the volume chart.
Ticker:AIRTELAFRI was also the most traded stock in value terms, with 22.61% of the total value of trades on the exchange. MRS topped the advancers’ chart with a price appreciation of 9.83 percent.
The company was trailed by COURTVILLE (8.70%), UNITYBNK (8.33%), DANGCEM (7.77%), NAHCO (3.54%), and nine others. Atlass Portfolios market analysts said sixteen stocks depreciated, topped by JBERGER with a price depreciation of -9.81% to close at ₦21.15.
CADBURY lost 9.69%, PRESTIGE declined by 9.52%, NB fell by 5.66%, UPDCREIT dropped by 5.08%, MANSARD share price tumbled by 4.38% and WEMABANK slowdown by1.56%. READ: Dangote Cement: Analysts See Strong Upside, Expect Earnings Growth
Overall, the market breadth also closed slightly negative, recording 15 gainers and 16 losers, though the sector performance was positive. Thus, three out of the five major market sectors were up, led by the NGX Industrial sector which gained +3.51% followed by a 0.12% gain in the NGX Oil & Gas index.
Similarly, the NGX Banking sector inched upward by +0.01%, while the Insurance and Consumer goods sectors dipped by -1.72% and -0.66% respectively. # Stockholders Gain N253bn as Dangote, MRS Shares Rally