Nigerian stock market daily report: Market cap hits ₦50 trillion as Dangote and BUA Cements continue to rise

The market capitalization of the Nigerian Exchange’s equities market hit ₦50.28 trillion on Thursday, rising by 2.04% on the day.

Dangote Cement Plc (NGX: DANGCEM) and BUA Cement Plc (NGX: BUACEMENT) once again recorded maximum gains, to ensure the local bourse made it 4 gains out of four trading days in the week.

The bull run that heralded the new year therefore continued on as the NGX ASI advanced by 2.04% to close at yet 90,063.25 points.

Also read; Dangote Cement Plc regains top spot as the most capitalized stock on the Nigerian Exchange

The market capitalization grew by the same percentage points, adding ₦1.00 trillion to close the day at ₦50.28 trillion, just shy of the ₦50 trillion mark.

Year-to-date, the index has now risen by 22.90%, while Investors’ has seen ₦9.37 trillion added to their wealth.

Dangote Cement Plc (NGX: DANGCEM) and BUA Cement Plc (NGX: BUACEMENT) enjoyed maximum gains on Thursday, advancing by 8.27% and 8.96% respectively to close the day at ₦489.90 and ₦135.00.

Activity Level

The activity level was mixed of volume of shares traded decreased while the value of shares traded increased.

The volume of shares traded decreased by 12.16%, the value of shares traded and no of deals done increased by 17.78% and 1.91% respectively.

By the end of trading, 1.14 billion shares valued at ₦19.29 billion had exchanged hands in 17,804 deals.

Shares of Transnational Corporation Plc (NGX: TRANSCORP), Universal Insurance Plc (UNIVINSURE), and Veritas Kapital Assurance Plc (NGX: VERITASKAP)  were the most traded stocks by volume with 156.62 million, 114.54 million and 69.41 million shares respectively.

Shares of Transnational Corporation Plc (NGX: TRANSCORP), Guarany Trust Holding Company Plc (NGX: GUARANTY) and Zenith Bank Plc (NGX: ZENITHBANK) were the most traded by value, with their shares worth ₦2.96 billion, ₦2.88 billion and ₦1.62 Billion respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 37 stocks advanced against 42 decliners.

The top five gainers were;

1. Conoil plc (NGX: CONOIL): It gained 10% to close at ₦112.20.
2. John Holt Plc (NGX: JOHNHOLT): It gained 10% to close at ₦2.53.
3. NEM Insurance Plc (NGX: NEM): It gained 10% to close at ₦8.25.
4. Eterna Plc (NGX: ETERNA): It gained 10% to close at ₦20.90.
5. Unity Bank Plc (NGX: UNITYBNK): It gained 10% to close at ₦3.30.

The top five losers on were;

1. Ikeja Hotel Plc (NGX: IKEJAHOTEL): It lost 9.79% to close at ₦8.11.
2. Royal Exchange Plc (NGX: ROYALEX): It lost 9.78% to close at ₦0.83.
3. Mutual Benefits Assurance Plc (NGX: MBENEFIT): It lost 9.57% to close at ₦0.85.
4. Linkage Assurance Plc (NGX: LINKASSURE): It lost 9.40% to close at ₦1.35.
5. Japaul Gold and Ventures Plc (NGX: JAPAULGOLD): It lost 9.33% to close at ₦2.43.

Three of the indices under our watch closed positively, while two declined.

1. Banking Index: The index lost  1.89% to close at 1,043.54 points (YTD: +16.31%).
2. Industrial Index: The industrial index gained 7.83% to close at 3,955.13 points (YTD: +45.82%).
3. Consumer Goods Index: The index advanced by 0.87% to 1,382.32 points (YTD: 23.28%).
4. Oil & Gas Index: It gained 2.69% to 1,092.34 points (YTD: +4.72%).
5. Insurance Index: The index lost 2.11% to 454.53 points (YTD: +41.31%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur