Dangote Cement reverses bearish run as equities market gain N10.8bn

Equities trading on the floor of the Nigerian Stock Exchange (NSE) reversed negative sentiment as the gains from Dangote Cement shares appreciated the market capitalisation by 0.10 per cent or N10.766 billion to close at N11.007 trillion at the close of Thursday trading.

Significantly, Dangote Cement, the most capitalised shares on the local bourse, added N11.60 Kobo to each of its shares to close at N128.40 Kobo per share on Thursday, leading other six on the gainers’ charts as against 19 decliners.

Similarly, the All-Share Index (ASI) appreciated by 0.10 per cent after adding 20.66 points to close at 21,121.20 basis points. Accordingly, Month-to-date and Year-to-Date losses eased to -0.8 per cent and -21.3 per cent, respectively.

However, market breadth closed negative with seven gainers against 19 losers even as Nigerian Breweries stock led losers chart with 9.27 per cent decline to close at N22.50 Kobo per shares, followed by Honey Flour whose shares depreciated by 8.16 per cent to close at 90 Kobo per share.

International Breweries also shed 6.54 per cent or 35 Kobo to close at five naira per shares, while MTN Nigeria lost 5.69 per cent or N5.60 Kobo to close at N92.80 Kobo per share just as FBN Holdings shares depreciated by 5.13 per cent or 20 Kobo to closes at N3.70 Kobo per share.

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On the other hand, Live Stock shares advanced by 9.38 per cent to close at 70 Kobo per share while Glaxo Smithkline appreciated by 9.09 per cent to close at N4.80 kobo, while Flour Mills Nigeria went up by 5.48 per cent to close at N20.20 per share.

However, the volume of shares traded increased by 65.4 per cent to 255.592 million shares, worth N2.9 billion, and traded in 4,418 deals. Transactions in the shares of Zenith Bank topped the activity chart with 100.8 million shares valued at N1.1 billion. Guaranty Trust Bank followed with 34.2 million shares worth N595.98 million, while FBN Holdings traded 28.96 million shares valued at N109.24 million.

Transnational Corporation also traded 13.4 million shares valued at N8.1 million, while United Bank for Africa sold 13.4 million shares worth N65.6 million.

NIGERIAN TRIBUNE

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