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NGX: Index appreciates by 1.47% on Dangote Cement gain



The Nigerian Exchange Ltd. (NGX) All-Share Index on Wednesday rebounded by 1.47 per cent, following Dangote Cement gain.

Specifically, the index which opened at 50,075.47 rose by 725.76 points or 1.47 per cent to close at 49,350.71.

Similarly, the market capitalisation increased by N390.92 billion to close at N27.01 trillion compared with N26.62 trillion achieved on Tuesday.

A breakdown of the price movement table shows that Dangote Cement recorded the highest gain to lead the gainers’ table with 9.96 per cent to close at N265 per share.

NEM Insurance followed with an increase of 9.89 per cent to close at N24.11, while Ellah Lakes rose by 9.41 per cent to close at N4.30 per share.

Japaul Gold and Ventures appreciated by 8.82 per cent to close at 37k, while Mayer & Baker grew by 8.68 per cent to close at N3.88 per share.

On the other hand, WAPCO topped the losers’ table, depreciating by 8.84 per cent to close at N23.20 per share.

NAHCO trailed with a decline of 8.62 per cent to close at N5.30, while Honey Flour lost by 6.41 per cent to close at N2.63 per share.

UACN was down by 5.36 per cent to close at N10.60, while AIICO Insurance declined by 5.26 per cent to close at N10.54 per share.

In the same vein, the volume of shares traded closed higher with an exchange of 279.22 million shares worth N2.08 billion in 3,576 deals.

This was in contrast with a turnover of 140.61 million shares valued at N1.61 billion traded in 3,895 deals on Tuesday.

Jaiz Bank Plc was the most active stock during the day, trading 115.13 million shares worth N100.14 billion.

It was followed by First Bank of Nigeria Holdings (FBNH) with an account of 39.96 million shares valued at N431.5 million, while United Bank for Africa (UBA) traded 14.66 million shares worth N104.32 million.

AIICO Insurance sold 13.91 million shares valued at N7.68 million, while Japaul Gold and Ventures traded 13.59 million shares worth N4.91 million.

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Olawunmi Ashafa

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