Equities market resumes August with 2.43% recovery
. As Dangote Cement tops trade, spurs gains
The equities market recovered on Tuesday, after descending in two previous sessions, following a 7.97 per cent gain in Dangote Cement’s stock price which also topped trading activity for the day through the sale of 416.5 million shares.
The Nigerian Stock Exchange All-Share Index (NSEASI) consequently added 2.43 per cent to close at 36,720.62 points, pushing year to date returns to 35.8 per cent, while Market Capitalisation added N302.1billion to close at N12.656 trillion.
The Industrial, Insurance and Consumer Goods indices recorded the highest gains of 1.67 per cent, 1.21 per cent and 1.19 per cent respectively, while the Oil and Gas emerged the day’s lone loser with a depreciation of 1.25 per cent
The price movement table closed with 32 gainers, against 20 losers.
Linkage Assurance, Nascon Allied Industries and Dangote Cement topped the day’s gainers with an increase of 9.84 per cent, 7.97 per cent and 7.26 per cent each, to close at 67 kobo, N11.25 and N240 per share respectively.
On the flip side, Morison Industries led the losers with a loss of 9.23 per cent. This was followed by Forte Oil, which fell 7.62per cent, while Eterna lost 5.26 per cent to close at N3.60 per share.
Investors moved a total of 849.6 million shares worth N94.0b in 5,602 deals. 417.8 million of these shares worth N87.8b were traded by Dangote Cement’s investors.
Other stocks that topped activity chart were FBN Holdings which sold 61.0mn shares worth N367.5mn, and Access with the sale of 39.9 mn shares worth N399.6 m.
