Gains in Dangote Cement, BUA Cement pushes NGX ASI up by 3.93%

At the Nigerian Exchange Limited (NGX) on Tuesday, equities trading maintained the bull run as the benchmark index closed 3.93 percent stronger to settle at 87,971.10 basis points.

Sustained buy interests in industrial heavyweights namely, Dangote Cement, BUA Cement, alongside Zenith Bank drove the market strong performance having appreciated in share value by 9.84 percent, 9.96 percent and 2.92 percent, respectively.

Resultantly, market capitalization inched higher by 3.93 percent to N48.14 trillion largely influenced by position taking activities from which equity investors saw approximately N1.82 trillion in gains on Tuesday.

As measured by market breadth, market sentiment was positive as 75 tickers gained relative to 10 losers. Berger Paints and Dangote Sugar topped the gainers’ list having inclined in share value by 10.0 percent, respectively, while Royal Exchange and Multiverse recorded the most significant losses of the day after their respective share prices dipped by 8.2 percent and 6.6 percent.

A breakdown across sub-sector gauges tracked indicated gains as five of the five sub-indices closed in the green zone. NGX Banking, NGX Insurance, NGX Consumer Goods, NGX Oil/Gas and NGX Industrial Goods indexes recorded gains of 4.35 percent, 5.80 percent, 2.97 percent, 0.11 percent and 9.72 percent, respectively.

Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 42.94 percent. A total of 1.07 billion shares valued at N15.77 billion were exchanged in 14,505 deals.

At the close of the trading session, Jaiz Bank emerged as the most traded security by volume with 150.64 million units worth N508.44 million, changing hands in 757 deals, while NasconAllied was the most traded security terms of value resulting in N2.57 billion.


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