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Gains in Dangote Cement, 14 stocks lift capitalisation further by N262b

By Helen Oji
11 November 2022   |   3:50 am
Positive sentiments persisted on the equities sector of the Nigerian Exchange Limited (NGX) yesterday, as gains in Dangote cement, 14 others lifted market capitalisation further by N262 billion.

NGX Group building

Positive sentiments persisted on the equities sector of the Nigerian Exchange Limited (NGX) yesterday, as gains in Dangote cement, 14 others lifted market capitalisation further by N262 billion.

Specifically, at the close of trading yesterday, market capitalisation of listed equities appreciated by 1.10 per cent to N23.934 trillion from N23.681 trillion reported on Wednesday.

The All Share Index also grew by 465.34 basis points to 43942.82 points from 43477.48 points traded the previous day.

Investors traded 405.004 million shares valued at N3.096 billion in 3188 deals against 133.405 million shares worth N1.810 billion in 3078 deals.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Airtel Africa, MRS Nigeria Oil, Nigerian Exchange Group (NGX Group) and Nigerian Aviation Handling Company (NAHCO).

GTI Securities Limited said: “We expect mixed sentiments to continue during the week, as pre-election risks amplify.”

On the price movement chart, 15 stocks recorded price appreciation while 16 others constituted the losers’ chart. MRS led the gainers’ chart, adding 9.83 per cent to close at N12.85 kobo while Courteville Business Solutions followed with a gain of 8.70 per cent to close at 50 kobo. Unity Bank gained 8.33 per cent to close at 52 kobo.

Dangote Cement appreciated by 7.77 per cent to close at N238.50 kobo. Mutual Benefits added 3.70 per cent to close at 28 kobo. FTN Cocoa gained 3.33 kobo to close at 31 kobo. NGX Group added 2.16 per cent to close at N21.30 kobo. Fidelity Bank advanced by 1.25 per cent to close at N4.05 kobo.

TransNational Corporation garnered 95 kobo to close at N1.06 kobo. United Capital also added 83 per cent to close at N12.10 kobo.

On the contrary, Julius Berger topped the losers’ chart, depreciating by 9.81 per cent to close at N21.15 kobo. Cadbury Nigeria Plc trailed with a loss of 9.69 per cent to close at N10.25 kobo.

Prestige Assurance depreciated by 5.52 per cent to close at 38 kobo. Multiverse dipped by 9.41 per cent to close at N3.85 kobo. Wapic Insurance was down by 5.71 per cent to close at 332.60 per cent to close at N1.50 kobo. Cutix dropped 2.33 per cent to close at N2.10 kobo. AIICO also lost 1.79 per cent to close at 55 kobo.

The total volume traded rose by 203.59 per cent to 405.005 million shares, worth N3.097 billion, and traded in 3,188 deals. Transactions in the shares of Sterling Bank topped the activity chart with 171.155 million shares valued at N231.1.292 billion.

Access Holdings followed with 78.765 million shares worth N634.062 million. Transcorp traded 36.764 million shares valued at N38.611 million.

Guaranty Trust Holding Company (GTCO) traded 23.878 million shares valued at N420.269 million, while Zenith Bank transacted 17.170 million shares worth N343.120 million.