Nigerian stock market daily report: Cement giants keep the bull run going amidst loses across counters

Gains on the counters of Cement manufacturing giants; Dangote Cement Plc (NGX: DANGCEM) and BUA Cement Plc (NGX: BUACEMENT) kept the bull run on the Nigerian Exchange (NGX) going on Tuesday.

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The bench mark NGX All-Share Index (NGX ASI) gained 2.97%, adding 2,848.85 points to close at record high 98,616.97.

The index advanced despite maximum loses across 27 counters, and further loses across 31 other counters. Tuesday’s gain is on the back of the two cement manufacturing giants, supported by energy giant; Seplat Energy Plc (NGX: SEPLAT).

Investors’ wealth rose by ₦1.55 billion, as the market capitalization advanced by 2.97% to ₦53.96 trillion.

Activity Level

The activity level improved as the volume, value of shares traded and the number of deals done increased on Tuesday.

The volume of shares and value of shares traded increased by 3.56% and 12.97% respectively, while the number of deals done also increased by 5.28%.

By the end of trading, 747.51 million shares valued at ₦16.27 billion had exchanged hands in 16,589 deals.

Shares of Transnational Corporation Plc (NGX: TRANSCORP), Sterling Financial Holdings Company (NGX: STERLINGNG) and United Bank for Africa (NGX: UBA) were the most traded stocks by volume with 77.71 million, 72.31 million and 52.69 million shares respectively.

Shares of Dangote Cement Plc (NGX: NESTLE), United Bank for Africa (NGX: UBA) and Access Holdings Plc (NGX: ACCESSCORP) were the most traded by value, with their shares worth ₦3.10 billion, ₦1.57 billion and ₦1.35 Billion respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 17 stocks advanced against 58 decliners.

The top five gainers were;

1. BUA Cement Plc (NGX: BUACEMENT): It gained 10% to close at ₦163.35.
2. Seplat Energy Plc (NGX: SEPLAT): It gained 10% to close at  ₦2,795.10.
3. Dangote Cement Plc (NGX: DANGCEM): It gained 9.99% to close at ₦651.80.
4. Eterna Plc (NGX: ETERNA): It gained 9.92% to close at ₦27.70.
5. Meyer Plc (NGX: MEYER): It gained 9.88% to close at ₦3.56.

The top five losers on were;

1. May & Baker Plc  (NGX: MAYBAKER): It lost 10% to close at ₦7.38.
2. John Holt Plc (NGX: JOHNHOLT): It lost 10% to close at ₦2.70.
3. Mutual Benefits Assurance Plc (NGX: MBENEFIT): It lost 10% to close at ₦0.72.
4. Deap Capital Management & Trust Plc (NGX: DEAPCAP): It lost 10% to close at ₦0.81.
5. The Initiates Plc (NGX: TIP): It lost 10% to close at ₦2.52.

Two of the indices under our watch closed negatively, while three advanced.

1. Banking Index: The index lost 2.66% to close at 1,002.07 points (YTD: +11.69%).
2. Industrial Index: The industrial index gained 8.96% to close at 4,954.76 points (YTD: +82.68%).
3. Consumer Goods Index: The index gained 1.88% to 1,393.09 points (YTD: +24.24%).
4. Oil & Gas Index: It gained 5.56% to 1,220.89 points (YTD: +17.05%).
5. Insurance Index: The index lost 4.68% to 421.75 points (YTD: +31.12%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur