Dangote Cement, 46 Others Gain N1.8trn to Push Market Cap Above N91trn 

Kayode Tokede 

The Nigerian stock market yesterday began the trading week in positive territory as investors buy interest in Dangote Cement Plc and 46 others gained N1.8 trillion to push the market capitalisation across the  N91 trillion threshold.

As Dangote Cement appreciated by 9.22 per cent to close at N577.00 per share, the Nigerian Exchange  Limited All-Share Index (NGX ASI) gained 2,808.73 basis points or 1.99 per cent to close at 144,071.78 basis points from 141,263.05 basis points it opened for trading.

As a result, the NGX  ASI Month-to-Date and Year-to-Date returns advanced to +three per cent and +40per cent, respectively.

Also, market capitalisation rose by N1.8 billion to close at N91.150 trillion from N89.373 trillion it opened for trading last week.

Investor sentiment, as measured by market breadth, closed positive as 47 stocks advanced, while 23 declined. Lasaco Assurance, Royal Exchange and UPDC emerged the highest price gainer of 10 per cent each to close at N2.86, N1.65 and 54 kobo respectively, per share.

UACN followed with a gain of 9.97 per cent to close at N97.10, while Sovereign Trust Insurance rose by 9.94 per cent to close at N1.88, per share.

On the other side, Academy Press and Transcorp Power led the losers’ chart with 10 per cent each to close at N9.90 and N288.00 respectively, while John Holts followed with a decline of 9.59 per cent to close at N6.60, per share.

TotalEnergies Marketing Nigeria declined by 9.22 per cent to close at N640.00, while Ecobank Transnational Incorporated (ETI) dipped by 9.21 per cent to close at N9.21, per share.

However, the total volume traded fell by 24.8 per cent to 811.096 million units, valued at N19.472 billion, and exchanged in 35,963 deals. Transactions in the shares of FCMB Group led the activity with 84.949 million shares worth N979.416 million. Universal Insurance followed with an account of 82.512 million shares valued at N61.682 million, while Fidelity Bank traded 45.429 million shares valued at N955.598 million.

AIICO Insurance traded 40.149 million shares worth N94.292 million, while Veritas Kapital Assurance traded 39.770 million shares worth N60.257 million.

On market performance this week, analysts at Imperial Asset Managers Limited said, “we expect mixed tones to continue, supported by improving macroeconomic fundamentals, and the expectation of interim dividend declarations by Tier-1 Deposit Money Banks (DMBs). With major banks yet to release their H1 2025 earnings, investors’ positioning is likely to intensify in the coming days.

“However, some pockets of profit-taking are expected as traders recalibrate their portfolios.   Meanwhile, we continue to advise that investors maintain a cautious stance and continue to priorities stocks with strong fundamentals, healthy balance sheets, and resilient earnings potential.”