Dangote Cement, 26 others lift stock market by 0.36%

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Dangote Cement, 26 others lift stock market by 0.36%

Investors’  buying interests in the shares of  Dangote Cement Plc triggered 0.36 percent growth of the market indices with 26 other stocks at the close of trading on Tuesday.

In specific terms, the All-Share Index increased by 145.17 points or 0.36 per cent to close at 40,295.95 against 40,150.78 on Monday. Similarly, the market capitalisation inched higher by N75 billion to close at N21.069 trillion from N20.994 trillion posted on Monday.

The market gain was driven by price appreciation in medium and large capitalised stocks amongst which are; Dangote Cement, Ardova, NASCON Allied Industries, Dangote Sugar Refinery and May & Baker.

The price movement chart showed positive market outlook with 27 gainers as against 20 losers.

Niger Insurance, Omatek Ventures, Mutual Benefits Assurance and NASCON led the gainers’ chart in percentage terms, gaining 10 per cent each to close at 22 kobo, 22 kobo, 33 kobo and N15.95 per share, respectively. Ardova followed with 9.75 per cent to close at N19.70, while NCR rose by 9.69 per cent to close at N2.15 per share.

Conversely, Oando drove the losers’ chart in percentage terms, declining by 5.41 per cent to close at N3.50 per share. UACN Property Development Company and Deap Capital Management and Trust trailed with a loss of 4.76 per cent each to close at 80 kobo and 20 kobo per share, respectively. Courteville Business Solutions shed 4.35 per cent to close at 22 kobo, while Wema Bank dipped 4.11 per cent to close at 70 kobo per share.

Transactions in the shares of UPDC Real Estate Investment Trust topped the activity chart with 755.01 million shares valued at N4.15 billion. AXA Mansard Insurance followed with 49.51 million shares worth N59.13 million, while Transcorp traded 44.27 million shares valued at N41.76 million. Japaul Gold and Ventures sold 29.35 million shares worth N34.04 million, while Sterling Bank transacted 26.21 million shares valued at N51.85 million.

In all, the total volume of shares traded increased by 247.5 per cent with an exchange of 1.17 billion shares worth N7.97 billion in 5,591 deals. This was in contrast with a turnover of 335.69 million shares valued at N2.49 billion transacted in 5,338 deals on Monday.


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