Kayode Tokede

The Nigerian stock market capitalisation yesterday crossed the N82 trillion mark, driven by a rally in key stocks such as Dangote Cement Plc, BUA Cement Plc and 28 others 

The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 1,316.79 basis points or 1.02 per cent to close at 130,283.87 basis points from 128,967.08 basis points it opened for trading with Year-to-Date returns settled at +8.6per cent and +26.6per cent, respectively.

Also, market capitalisation rose by N833 billion to close at N82.418 trillion from N81.585 trillion it closed for trading the previous day.  

Sectoral performance was mixed as the NGX  Industrial Goods Index gained 9.1 per cent and NGX  Consumer Goods advanced by 0.5per cent , while the NGX Banking Index dipped by 2.3 per cent, NGX   Insurance Index dropped by -0.9 per cent and NGX Oil & Gas index  depreciated by 0.6 per cent.

On market outlook, Afrinvest Limited said, “we anticipate a modest performance on the bourse, as selective buying offsets profit booking.”

However, investor sentiment, as measured by market breadth closed negative as 30 stocks gained, while 46 lost. BUA Cement emerged the highest price gainer of 10 per cent to close at N112.20, per share.

Dangote Cement followed with a gain of 9.99 per cent to close at N473.30, while Chams Holding Company rose by 9.96 per cent to close at N3.09, per share.

First Holdco rose by 9.94 per cent to close at N35.40, while ABC Transports appreciated by 9.85 per cent to close at N5.69, per share. On the other side, Haldane McCall, MeCure Industries, Berger Paints, John Holts, May & Baker Nigeria, RT Briscoe led others on the losers’ chart with 10 per cent each to close at N4.68, N11.70, N33.75, N9.00, N15.30 and N3.42 respectively, per share.

FTN Cocoa processors shed 9.97 per cent to close at N6.32, while Academy Press lost 9.96 per cent to close at N7.50, per share.

The total volume traded dipped by 89.8 per cent to 1.193 billion units, valued at N42.756 billion, and exchanged in 37,418 deals. Transactions in the shares of Access Holdings led the activity with 168.099 million shares worth N4.622 billion. First Holdco followed with account of 86.416 million shares valued at N3.045 billion, while Zenith Bank traded 83.357 million shares valued at N6.292 billion.

Nigerian Breweries traded 68.567 million shares worth N5.084 billion, while AIICO Insurance traded 65.251 million shares worth N139.267 million.