NGX ASI crosses 40,000 points as bulls persists

The domestic equities market All-Share Index (ASI) went by 1.59 per cent to stay above 40,000 points at the end of trading activities on Thursday.

The positive sentiments at the Nigerian Exchange Limited (NGX) were largely due to investors’ appetite towards Dangote Cement as they committed more funds to buy its shares.

Other companies such as Presco, Okomu Oilpalm, Nigerian Breweries, and May & Baker also enjoyed investors’ patronage, hence making the number of 20 gainers stood above that of the 14 losers at the close of the trading session.

Hence, the Year-to-Date loss of the local bourse melted to 0.12 per cent.

At the end of the trading session on Thursday, the ASI rose above the 40,000 psychological mark to close at 40,221.17 basis points, the highest level since 21st February 2021.

Given the appreciable capital gain in Dangote Cement shares, the industrial index rose by 4.08 per cent to close at 2,089.38 points. Other sub-sector witnessed a bearish turn as the NSE Consumer Goods, NSE Banking, NSE Oil/Gas and the NSE Insurance indexes fell by 0.13 per cent, 0.30 per cent, 0.12 per cent, and 0.03 per cent respectively.

Meanwhile, market transactions came in strong given the huge value of Dangote Cement shares worth N1.13 billion that exchange hands for the day, hence lifting the volume and value of stock traded by 120.65 per cent and 31.57 per cent to 1.05 billion and N7.42 billion respectively.

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