Lagos, Jan. 22, 2024 (NAN) Transactions on the Nigerian Exchange Ltd. (NGX) on Monday continued on a positive territory, following sustained buy interest in Dangote Cement and 41 other stocks.
The market capitalization gained N673 billion, or 1.3 percent, to close at N52.408 trillion, compared with 51.735 trillion recorded at the previous session.
Similarly, the All-Share Index (ASI) gained 1,200 points to close at 94,538.12, up from 95,768.12 posted on Friday.
Consequently, the year-to-Date (YTD) return rose to 28.08 percent.
Also, investors traded 721.81 million shares valued at N14.41 billion and exchanged them in 15,757 deals.
Stocks of industries and tier-one banks, such as Dangote Cement, First City Monumental Bank (FCMB), and United Capital (UCAP), kept the market in positive territory.
The News Agency of Nigeria (NAN) reports that Dangote Cement shares have substantially increased, leading to a market capitalization of N10.095 trillion.
The increase represents a significant milestone for the first Nigerian company to achieve this valuation.
Its share price rose from N319.9 at the beginning of the year to N592.6 at the close of trading on Monday.
However, market breadth closed negative, with 44 laggards outnumbered by 42 advanced stocks.
Meanwhile, Sunu Assurances led the gainers’ chart by 10 percent to close at N1.98, followed by Dangote Cement, which gained 99 percent to close at N592.60 per share.
Tripple Gee & Company Ltd. gained 9.81 percent to close at N2.35, while Eterna Plc grew by 9.80 percent to close at N25.20 per share.
Cutix Plc advanced by 8.89 percent to close at N2.94 per share.
On the loosers’ chart, UPL Ltd., McNichols Plc, Cadbury Nigeria, Sovereign Trust Insurance, and FlourMill Nigeria Plc declined in percentage terms of 10 each to close at N3.60, N1.62, N26.10, 54k, and N42.30 per share, respectively.
Analysis of the market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 10.91 percent.
Also, on the activities’ chart, Transcorp led in volume by 66.52 million shares valued at N1.230 billion.
Veritas Kapital followed with 47 million shares valued at N34.91 million, while Access Holdings traded 40.01 million shares worth N1.17 billion.
Universal Insurance Plc sold 38.88 million shares valued at N19.198 million, and JapaulGold traded 32.82 million shares valued at N84.64 million. (NAN)
