The Nigerian stock yesterday staged a rebound, recouping prior session losses as capitalisation gained N404.58 billion on investors’ demand for Dangote Cement Plc.
On investors’ surge demand, the stock price of Dangote Cement gained 4.50per cent or N18.90 per share to close at N438.90 per share from N420.00 per share it opened for trading.
This led to the Nigerian Exchange Limited All-Share Index (NGX ASI) up by 641.63 basis points or 0.56 per cent to close at 114,659.11 basis points. Consequently, market capitalisation rose by N404.58 billion to close at N72.302 trillion.
Market breadth remained positive, with 31 gainers versus 28 decliners. Associated Bus Company and Beta Glass emerged the highest price gainer of 10 per cent each to close at N2.64 and N231.10 respectively, while Berger Paints followed with a gain of 9.98 per cent to close at N24.80, per share.
Fidson Healthcare rose by 9.91 per cent to close at N34.95, while Legend Internet appreciated by 9.88 per cent to close at N6.45, per share.
On the other side, Abbey Mortgage Bank led others on the losers’ chart with 7.50 per cent to close at N5.55, per share. NCR Nigeria followed with a decline of 7.09 per cent to close at N5.50, while Vitafoam Nigeria declined by 6.64 per cent to close at N60.50, per share
DAAR Communications shed 6.06 per cent to close at 62 kobo, while Nestle Nigeria lost 5.69 per cent to close at N1,500.00, per share.
However, the total volume traded dipped by 28.90 per cent to 471.151 million units, valued at N14.188 billion, and exchanged in 20,538 deals. Transactions in the shares of FCMB Group led the activity with 40.289 million shares worth N410.147 million. United Bank for Africa (UBA) followed with account of 36.545 million shares valued at N1.305 billion, while Access Holdings traded 35.051 million shares valued at N788.954 million.
Zenith Bank traded 28.666 million shares worth N1.439 billion, while Japaul God & Venture traded 25.368 million shares worth N50.135 million.
