Dangote Cement, GTB, Total lift stocks trading by N114bn
The Nigerian stock market has reversed the negative trend to start the week yesterday on a positive note. Summary of trading showed the lead indicator, the All-Share Index (ASI) appreciated by 328.83 absolute points, representing a gain of 1.25 per cent to close at 26,580.22 points. Similarly, the market capitalization gained N114 billion to close at N9.146 trillion.
The upturn was largely boosted by value appreciation recorded in some large capitalised stocks, amongst which are: Dangote Cement, Guaranty Trust Bank, Total, Zenith Bank and UACN. Market breadth was positive, with 20 gainers versus 16 losers.
United Capital recorded the highest price gain of 9.60 per cent, to close at N3.31 per share. FCMB followed with a gain of 9.40 per cent to close at N1.28, while Fidelity Bank appreciated by 8.43 per cent to close at 90 kobo per share. Sterling Bank rose by 7.14 per cent to close at 75 kobo and African Prudential up by 5.63 per cent to close at N3.19 per share.
On the other hand, Seven Up led the losers’ chart by five per cent, to close at N122.55 per share. Ashaka Cement shed 4.99 per cent to close at N10.86, while Cadbury lost by 4.95 per cent to close at N9.03 per share. Capital Hotel depreciated by 4.86 per cent to close at N3.33 and Nahco declined by 4.78 per cent to close at N2.59 per share.
Total volume traded rose by 4.2 per cent to 219.03 million shares, valued at N1.41 billion shares, and exchanged in 2,423 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 33.85 million shares valued at N30.2 million. Access Bank followed with 29.23 million shares worth N189.74 million, while United Capital traded 19.66 million shares valued at N64.58 million. FBN Holdings traded 16.77 million shares worth N59.86 million, while UBA sold 15.79 million shared valued N77.18 million.