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Nigeria’s equity market value rises by N710 bln on Dangote Cement, BUA shares rally

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By Ifeyinwa Ezeokoli 
The bullish momentum in the Nigerian equities market switched into a higher gear following renewed interest in Dangote Cement and Bua Cement forcing the market capitalisation to cross N25 trillion.
 
Consequently, the market capitalisation garnered N710 billion to close at N25.182 trillion.
 
The All-Share Index (ASI) rose by 1,303.04 points, representing a gain of 2.82 percent to close at 46,232.37. 
 
Accordingly, the month-to-date and year-to-date gains increased to 5.5 percent, and 8.2 percent respectively.
 
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, BUA Cement, Guinness Nigeria, Vitafoam of Nigeria and United Capital.
 
As measured by market breadth, market sentiment was positive with 28 gainers in relative to 11 losers. 
 
Secure Electronic Technology led the gainers’ chart in percentage terms by 10 percent to close at 22k per share. 
 
Dangote Cement followed with 9.98 percent to close at N262.30, while BUA Cement went up by 9.72 percent to close at N79 per share.
 
Cornerstone Insurance rose by 9.09 percent to close at 48k, while Prestige Assurance appreciated by 8.11 percent to close at 40k per share. 
 
On the other hand, SCOA Nigeria led the losers’ chart in percentage terms by 9.30 percent to close at N1.17 per share. 
 
Royal Exchange followed with a decline of 8.97 percent to close at 71k, while Eterna went down by 4.76 to close at N5.40 per share. 
 
Cutix lost 4.72 percent to close at N2.02, while Chams shed 4.35 percent to close at 22k per share.
 
The total volume of trades increased by 48.47 percent to 187.91 million units, valued at N1.84 billion exchanged in 3,458 deals. 
 
Transactions in the shares of LivingTrust Mortgage Bank topped the activity chart with 30.11 million shares valued at N43.06 million. 
 
Transcorp followed with 26.53 million shares worth N31.46 million, while Access Holdings traded 16.39 million shares valued at N139.58 million.
 
Ecobank Transnational Incorporated traded 12.12 million shares valued at N121.17 million, while Guaranty Trust Holding Company transacted 11.55 million shares worth N233.58 million.
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