Market Cap Crosses N67trn on Demand for Dangote Cement, 50 Others 

Kayode Tokede 

The Nigerian stock market maintained a positive trend yesterday, crossing N67 trillion by market  capitalisation as investors continued to take positions in Dangote Cement Plc, and 50 others. 

As Dangote Cement gained 3.88per cent to close at N431.00 per share yesterday, the market capitalisation gained N779 billion to close at N67.274 trillion from N66.495 trillion it closed the previous 

Consequently, the Nigerian Exchange Limited All Share Index (NGX ASI) gained by 1,247.54 points or 1.17 per cent to close at 107,822.52 basis points from  106,574.98 basis points as the stock market in its Month-to-Date returns and Year-to-Date returns settled higher at 3.2per cent and +4.8per cent, respectively.

Analysing by sectors, the NGX Industrial Goods index advanced by 2.1 per cent, NGX Consumer Goods index gained 1.4per cent, NGX Banking Index appreciated by 0.5per cent and NGX Oil & Gas grew by 0.2per cent , while the  NGX Insurance index closed flat.

Investor sentiment, as measured by market breadth was positive as 51 stocks advanced, while 16 declined Ikeja Hotels and VFD Group recorded the highest price gain of 10 per cent each to close at N14.85 and N52.80 respectively, per share.

Transcorp Hotel and Honeywell Flour Mills followed with a gain of 9.99 per cent each to close at N126.10 and N12.66 respectively, while Eterna up by 9.93 per cent to close at N48.70, per share.

On the other hand, CWG led the losers’ chart by 8.95 per cent to close at N8.65, per share. Regency Alliance Insurance followed with a decline of 7.89 per cent to close at 70 kobo, while LASACO Assurance declined by 7.25 per cent to close at N3.20, per share.

Royal Exchange depreciated by 7.22 per cent to close at 90 kobo, while SCOA Nigeria declined by 6.54 per cent to close at N3.43, per share.

Meanwhile, the total volume traded declined by 7.52 per cent to 462.145 million units, valued at N10.233 billion, and exchanged in 15,629 deals. 

Transactions in the shares of Sterling Financial Holdings Company topped the activity chart with 49.612 million shares valued at N296.815 million. Ellah Lakes followed with 34.505 million shares worth N133.924 million, while Zenith Bank traded 25.550 million shares valued at N1.308 billion.

Access Holdings traded 19.590 million shares valued at N553.680 million, while AIICO Insurance sold 18.492 million shares worth N32.203 million.