Investors buying interest in DangCem, 26 others spikes NSE market indicators sustain rally by 0.36%


By Chinyere Joel-Nwokeoma

Lagos, Jan. 12, 2021 The Nigerian Stock Exchange on Tuesday sustained positive posture, appreciating by 0.36 per cent due to buying interest on Dangote Cement and 26 stocks.

Specifically, the All-Share Index increased by 145.17 points or 0.36 per cent to close at 40,295.95 against 40,150.78 on Monday.

Similarly, the market capitalisation inched higher by N75 billion to close at N21.069 trillion from N20.994 trillion posted on Monday.

The market gain was driven by price appreciation in medium and large capitalised stocks amongst which are; Dangote Cement, Ardova, NASCON Allied Industries, Dangote Sugar Refinery and May & Baker.

Market closed breadth positive with 27 gainers as against 20 laggards.

Niger Insurance, Omatek Ventures, Mutual Benefits Assurance and NASCON led the gainers’ chart in percentage terms, gaining 10 per cent each to close at 22k, 22k, 33k and N15.95 per share, respectively.

Ardova followed with 9.75 per cent to close at N19.70, while NCR rose by 9.69 per cent to close at N2.15 per share.

Conversely, Oando drove the losers’ chart in percentage terms, declining by 5.41 per cent to close at N3.50 per share.

UACN Property Development Company and Deap Capital Management and Trust trailed with a loss of 4.76 per cent each to close at 80k and 20k per share, respectively.

Courteville Business Solutions shed 4.35 per cent to close at 22k, while Wema Bank dipped 4.11 per cent to close at 70k per share.

Transactions in the shares of UPDC Real Estate Investment Trust topped the activity chart with 755.01 million shares valued at N4.15 billion.

AXA Mansard Insurance followed with 49.51 million shares worth N59.13 million, while Transcorp traded 44.27 million shares valued at N41.76 million.

Japaul Gold and Ventures sold 29.35 million shares worth N34.04 million, while Sterling Bank transacted 26.21 million shares valued at N51.85 million.

In all, the total volume of shares traded increased by 247.5 per cent with an exchange of 1.17 billion shares worth N7.97 billion in 5,591 deals.

This was in contrast with a turnover of 335.69 million shares valued at N2.49 billion transacted in 5,338 deals on Monday.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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