Equities market gains N48bn over surge interest in Dangote Cement, 19 other shares

The equities market of the Nigerian Stock Exchange (NSE) gained N48billion on Tuesday with the market capitalization gaining N48 billion over investors surge interest in Dangote Cement and 19 other shares.

The market capitalisation which opened on Tuesday at N13.193 trillion increased by N48 billion or 0.36 per cent to close at N13.241 trillion.

The NSE All-Share Index increased by 67.28 basis points or 0.27 per cent to close at 25,383.43 basis points against 25,316.15 basis points recorded on Monday.

Consequently, Month-to-Date return increased to 0.5per cent, as Year-to-Date losses moderated to -5.4per cent.

The 0.36 per cent growth in market capitalisation was due to the listing of UACN Property Development Company (UPDC) Plc N16 billion rights issue of 15.96 billion at N1 per share.

Analysing by sectors, the Insurance index gained 0.4 per cent and Industrial goods Index added 0.2per cent as against losses recorded in the Consumer Goods (0.1per cent) and Banking (-0.1per cent) indices. The Oil and Gas index remained flat.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Dangote Cement, Guaranty Trust Bank, MTN Nigeria Communications, NASCON Allied and Skyway Aviation Handling Company.

Market sentiment, as measured by market breadth, was positive, with 20 gainers and 18 losers.

An analysis of the price movement chart indicates that Neimeth International Pharmaceuticals led the gainers’ chart in percentage terms, gaining 9.84 per cent to close at N1.34 per share. University Press followed with 9.65 per cent to close at N1.25, while Skyway Aviation Handling Company rose by 9.52 per cent to close at N2.07 per share.

Japaul Oil & Maritime Services grew by 9.09 per cent, to close at 24k, while Associated Bus Company appreciated by 8.57 per cent to close at 38k, per share.

Conversely, Prestige Assurance led the losers’ chart in percentage terms, dropping by 10 per cent, to close at 54k, per share.

Omatek Ventures Plc followed with 9.68 per cent to close at 28k, while Champion Breweries declined by 9.09 per cent to close at 90k, per share.

Union Bank of Nigeria lost 8.21 per cent to close at N6.15, while UACN shed 6.67 per cent to close at N8.40, per share.

Also, the total volume of shares transacted rose by 49.18 per cent as investors bought and sold 377.88 million shares valued at N6.06 billion exchanged in 4,585 deals.

This was in contrast with a turnover of 253.31 million shares worth N2.65 billion traded in 4,775 deals on Monday.

Transactions in the shares of Nigerian Breweries topped the activity chart with 50.46 million shares valued at N2.22 billion.

Guaranty Trust Bank followed with 40.45 million shares worth N1.01 billion, while Zenith Bank accounted for 34.89 million shares valued at N599.03 million.