Nigerian stock market daily report: Dangote & BUA Cements push index above 90k points

Gains in the share prices of Dangote Cement Plc (NGX: DANGCEM) and BUA Cement Plc (NGX: BUACEMENT) has pushed the Nigerian Exchange’s All-Share Index (NGX ASI) above the 90,000 points mark.

The bull run that heralded the new year continued on Wednesday as the NGX ASI advanced by 2.38% to close at yet another record; 90,063.25 points.

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The market capitalization grew by the same percentage points, adding ₦1.145 trillion to close the day at ₦49.2 trillion, just shy of the ₦50 trillion mark.

Year-to-date, the index has now risen by 20.45%, while Investors’ has seen ₦8.37 trillion added to their wealth.

Dangote Cement Plc (NGX: DANGCEM) and BUA Cement Plc (NGX: BUACEMENT) once again enjoyed maximum gains on Wednesday, advancing by 9.86% and 9.99% respectively to close the day at ₦452.50 and ₦4123.90.

Activity Level

The activity level improved on Wednesday as the volume of shares traded, value of shares traded and the no of deals done all increased.

While the volume of shares traded increased by 19.25%, the value of shares traded and no of deals done increased by 2.09% and 17.77% respectively.

By the end of trading, 1.29 billion shares valued at ₦16.38 billion had exchanged hands in 17,471 deals.

Shares of Sterling Financial Holdings Company Plc (NGX: STERLINGN), Japaul Gold and Ventures Plc (NGX: JAPAULGOLD) and Transnational Corporation Plc (NGX: TRANSCORP) were the most traded stocks by volume with 106.14 million, 101.12 million and 90.46 million shares respectively.

Shares of Nigerian Breweries Plc (NGX: NB), Transnational Corporation Plc (NGX: TRANSCORP), and Zenith Bank Plc (NGX: ZENITHBANK) were the most traded by value, with their shares worth ₦2.01 billion, ₦1.57 billion and ₦1.09 Billion respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 47 stocks advanced against 35 decliners.

The top five gainers were;

1. Aiico Insurance Plc (NGX: AIICO): It gained 10% to close at ₦1.54.
2. Guinness Nig Plc (NGX: GUINNESS): It gained 10% to close at ₦71.50.
3. Honeywell Flour Mill Plc (NGX: HONYFLOUR): It gained 10% to close at N4.84.
4. Sunu Assurances Nigeria Plc (NGX: SUNUASSUR): It gained 10% to close at ₦2.20.
5. Wema Bank Plc (NGX: WEMABANK): It gained 10% to close at ₦0.44.

The top five losers on were;

1. RT Briscoe Plc (NGX: RTBRISCOE): It lost 10% to close at ₦0.81.
2. Dangote Sugar Refinery Plc (NGX: DANGSUGAR): It lost 9.95% to close at ₦73.30.
3. Nigerian Exchange Group Plc (NGX: NGXGROUP): It lost 9.84% to close at ₦22.90.
4. Red Star Express Plc (NGX: REDSTAREX): It lost 9.47% to close at ₦4.11.
5. Sterling Financial Holdings Company Plc (NGX: STERLINGN): It lost 9.09% to close at ₦6.90.

All the five indices under our watch except the banking index closed positively.

1. Banking Index: The index lost  3.26% to close at 1,063.63 points (YTD: +18.55%).
2. Industrial Index: The industrial index gained 8.76% to close at 3,667.87 points (YTD: +35.23%).
3. Consumer Goods Index: The index advanced by 1.92% to 1,370.44 points (YTD: 22.22%).
4. Oil & Gas Index: It gained 0.45% to 1,063.74 points (YTD: +1.98%).
5. Insurance Index: The index advanced by 3.63% to 464.35 points (YTD: +44.36%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur