Nigerian Stock Market records highest jump in over two months

…as Dangote Cement gains 8.59%

Stock trading activities on the Nigerian Stock Exchange (NSE) closed on a positive note for the third consecutive day as the Market Capitalization which is the total market value of all publicly quoted firms on the NSE, reflecting investors worth increased by N282 billion to close at N9.761 trillion. This is compared to previous sessions gain of N36.4 billion to close at N9.479 trillion. 

Lead indicator of the NSE, the All Share Index (ASI) which opened at 27,559.03 gained 2.97 percent to close at 28,419.92 points.

Market breadth closed with 25 gainers to 13 losers, while the year to date losses reduced to -0.78 percent percent from -3.64 percent recorded previously.

Dangote Cement Plc led the day’s advancing stocks having improved by 8.59 percent or N15.11 to close at N191 per share, CAP Plc added 4.92 percent or N1.48 to close at N31.57 per share, FCMB Plc followed with a growth of 4.90 percent or 5 kobo to close at N1.07 per share, Aiico Insurance Plc gained 4.76 percent or 3 kobo to close at 66 kobo per share, and Wema Bank Plc appreciated by 4.55 percent or 3 kobo to close at 69 kobo per share.

On the flip side, Caverton Plc led the days retreating stocks following a decline of 4.79 percent or 7 kobo in its share price to close at N1.39 per share, Chellarams Plc lost 4.75 percent or 17 kobo to close at N3.41 per share, Tripple Gee Plc dropped 4.58 percent or 7 kobo to close at N1.46 per share, May and Baker Plc depreciated by 4.55 percent or 4 kobo to close at 84 kobo per share and Cutix Plc fell 4.46 percent or 7 kobo to close at N1.50 kobo.

The total value of stocks traded on the floors of The NSE amounted to N2.1 billion, while a total of 229.2 million shares exchanged hands in 3,243 deals.

The top three traded stocks were: Diamond Bank Plc with the sale of 62.5 million shares worth N67.9 million, FCMB Plc followed, trading 47.3 million stocks valued at N50.4 million and Fidelity Bank Plc exchanged 33.9 million shares worth N31.5 million.