Dangote Cement, 19 Others Drive Stock Market’s 1.86% Gain

Share price gains recorded yesterday by Dangote Cement and 19 others stocks contributed immensely to the 1.86 per cent increase in the value of Nigerian equities market.
In summary, the All Share Index (ASI) gained 632.15 absolute points, representing a gain of 1.86 per cent to close at 34,652.52 points. Similarly, the market capitalisation gained N218 billion, to close at N11.943 trillion.
The upturn was impacted by gains recorded in large capitalised stocks, amongst which are; Dangote Cement, Julius Berger, Stanbic IBTC, Flourmill Nigeria and Access Bank. Analysts from Afrinvest said that, “As more positive half year, 2017 corporate results are released, we expect investor sentiment to remain largely positive.”
Market breadth was neutral, 20 gainers and losers apiece. Transcorp led the gainers table by 8.05 per cent to close at N1.61 per share. Dangote Cement followed with a gain of five per cent to close at N222.60, while Julius Berger appreciated by 4.96 per cent to close at N36 per share. CI Leasing went up by 4.92 per cent per cent to close at 64 kobo and Access Bank rose by 4.46 per cent to close at N10.08 per share.
On the other hand, Aiico Insurance led the laggards’ table by five per cent to close at 57 kobo per share, while Morison and Vitafoam trailed with a loss of 4.85 per cent, each to close at N1.57 and N2.55 per share different. Unity Bank went down by 4.29 per cent, to close at 67 kobo, while Berger Paints declined by 3.69 per cent to close at N6.52 per share.
However, total volume traded went down by 22.33 per cent to 293.75 million shares, valued at N3.95 billion, and exchanged in 3,712 deals.
Transactions in the shares of Access Bank topped the activity chart with 73.56 million shares valued at N730.18 million. UBA followed with 34.62 million shares worth N323.28 million, while Guaranty Trust Bank traded 32.58 million shares valued at N1.22 billion.
Unity Kapital traded 29.94 million shares worth N14.97 million and Transcorp transacted 16.29 million shares valued at N25.55 million.

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