Investors gain N1.4trn as Dangote, Aradel boost NGX rally

By Peter Egwuatu

Equity investors gained N1.4 trillion on Monday on the Nigerian Exchange (NGX) as Dangote Cement, Aradel Holdings, UBA, and other companies drove momentum.

The Exchanger opened the week on a positive note, as key market performance indicators, NGX-All Share Index, ASI and market capitalisation appreciated by 1.29% each.

Picking up the gaining streaks, the market witnessed continued investors’ positive trading sentiment after a more than N4 trillion surge in market capitalisation last week.

Stockbrokers said bargain hunting persisted in mid-cap and blue-chip stocks, including Dangote Cement, Aradel, Transcorp, FCMB, UBA, Dangote Sugar, among others.

The Industrial sector appreciated by 4.76% as the market Index added 2,218.73 basis points in today’s trading session, reflecting a 1.29% increase to close at 173,946.22. The stock market capitalisation increased by 1,424.24 billion, representing a growth of 1.29%, settling at N111.66 trillion.

However, market activities were down today as the total volume of all trades and the total value of all transactions declined by -18.72% and -35.21%, respectively.

Stock analysts reported that approximately 775.18 million units valued at N27,915.68 million were transacted across 65,960 deals.

Accesscorp topped the volume chart, accounting for 8.70% aggregate volume traded, followed by Zenith Bank (5.99%), NSLTECH (5.69%), VERITASKAP (5.10%), and MBENEFIT with 4.39%.

Zenith Bank accounted for 12.34% of the total value of all trades executed today, thereby making it the highest traded on the exchange.

Top performers include CAP, May & Baker, and Daar Communication, led by generating +10.00% each, then trailed by RT Briscoe (+9.98%), Deap Capital (+9.97%), NAHCO (+9.97%), Zichis (+9.97%), Union Dicon (+9.96%), and fifty others.

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