December 2, 2021

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Dangote Cement drives N150bn equities gains

The equities market of the Nigeria Exchange (NGX) extended the previous day’s gains driven by buying interests in Dangote Cement  (+2.2 per cent), Okomu Oil (+9.8 per cent), and GTB (+1.8 per cent) as market capitalisation rose by N150.8 billion to close at N20.4 trillion.

The All Share Index increased by 0.7 per cent to 39,170.95 points. Consequently, year-to-date loss improved to -2.7 per cent.

Trading activity was mixed as volume traded declined 16.9 per cent to 181.5 million units, while value traded rose by 149.0 per cent toN4.0bn.

The most traded stocks by volume were Zenith Bank (20.8m units), Sterling (19.4m units) and Guaranty (15.1m units), while Nestle (N1.4bn), Dangote Cement (N518.0m) and Zenith (N476.1m) led by value.

Across sectors, performance was bullish as five indices gained while the AFR-ICT index closed flat.

Investor sentiment as measured by market breadth strengthened to 4.2x from 0.9x in the last trading session as 25 stocks advanced while six stocks declined.