Bulls maintain dominance at NGX, as market gains N1.446trn

The bullish sentiment persisted on the local equity market on Friday as the All Share Index (ASI) appreciated by 2.87 per cent as gain recorded in the shares of Dangote Cement, BuaCement, Seplat Energy, Eterna Plc, Unilever Nigeria Plc and 31 other companies listed market activities.

Specifically, the NGX ASI went up by 2641.15 basis points to 94538.12 points from 91896.97 points recorded the previous day.

The market capitalisation of listed equities during week increased   by N1.446 trillion to close the week at N51.735 trillion against N50.289 trillion reported the previous day

The domestic market showed positive growth between Monday and Friday, appreciating by N5.219 trillion or 11.27 per cent while the ASI grew by 9897.23 basis points or 11.69 per cent within the same period.

The year-to-date gain of the NGX stood at 26.43 per cent as Exchange printed 36 gainers against 35 losers. 

An analysis on the investment showed that Seplat Energy and BuaCement led gainers table in percentage terms, gaining 10 percent each to close at N2541.00 and N148.50 per share respectively. May & Baker followed with a gain of 9.99 per cent to close at N8.26 per unit, Dangote Cement gained 9.98 per cent to close at N538.80 per unit while HoneyWell flour added 9.96 per cent to close at N5.85 per share.

On the contrary, Lasaco Insurance topped losers chart, declining 9.85 per cent to close at N2.47 per share, C&I Leasing trailed with a drop of 9.82 per cent to close at N3.95 per share, Mutual Benefits dipped by 9.41 per cent to close at N0.77 per unit, Nahco sheds 9.38 per cent to close at N33.80 per share while PZ Cusson down by 9.31 per cent to close at N33.55 per unit.

Volume of activities declined by 295.515 million, representing 25.92 per cent as investors traded 844.485 million shares N15.044 billion in 15255 deals against 1.140 million shares cost N19.293 billion in 17804 deals.

Transaction in the shares of Transnational Corporation of Nigeria led market activities with 80.317 million shares valued at N1.519 billion, Veritas Kapital followed with account of 80.072 million shares worth N59.634 million, Fidelity Bank traded 60.545 million shares cost N783.117 million, Jaiz Bank traded 36.322 million shares valued at N131.779 million while United Bank for Africa sold a total of 34.858 million shares cost N1.080 billion.