Gain in Dangote Cement Shares Positively Impact NGX Index by 0.20%

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited appreciated by 0.20 per cent on Friday, driven gain in Dangote Cement shares and others during the session.

The All-Share Index (ASI) increased yesterday by 83.08 points to 42,353.31 points from 42,270.23 points, while the market capitalisation rose by N50 billion to N22.107 trillion from N22.057 trillion.

The industrial, insurance and consumer goods sectors appreciated on Friday by 0.62 per cent, 0.60 per cent and 0.28 per cent respectively, while the banking and energy counters depreciated by 0.49 per cent and 0.11 per cent apiece.

The market breadth and investor sentiment were positive yesterday as there were 19 depreciating equities and 21 appreciating equities.

The best-performing stock of the day was Pharma-Deko as it went up by 10.00 per cent to N2.20, Royal Exchange grew by 9.52 per cent to 69 kobo, Mutual Benefits Assurance rose by 8.33 per cent to 26 kobo, Regency Assurance gained 7.89 per cent to sell at 41 kobo, while Coronation Insurance jumped 6.25 per cent to 51 kobo.

The worst-performing stock yesterday was Champion Breweries as it fell by 10.00 per cent to N2.34, Honeywell Flour dropped 7.61 per cent to N3.40, Academy Press declined by 5.88 per cent to 48 kobo, Courtville depreciated by 5.26 per cent to 36 kobo, while Union Bank decreased by 5.15 per cent to N4.60.

A total of 341.7 million shares worth N3.5 billion exchanged hands in 3,059 deals on Friday compared with the 249.4 million shares worth N3.6 billion transacted in 3,578 deals on Thursday, indicating a 36.99 per cent increase in the trading volume, a 1.08 per cent rise in the trading value and a 14.51 per cent fall in the number of deals.

International Breweries finished the session as the most active stock with the sale of 83.7 million units valued at N409.4 million.

UAC Nigeria sold 62.8 million shares valued at N600.9 million, FBN Holdings transacted 32.4 million stocks worth N397.9 million, Access Bank exchanged 29.2 million equities worth N275.0 million, while Zenith Bank traded 21.9 million stocks for N550.8 million.