High trading in the shares of Dangote Cement Plc on Tuesday lifted the overall value of transactions at the equities market by 445.4 per cent to N26.809 billion invested in 462.670 million shares, from N4.915 billion staked on 350.595 million shares the previous day. Dangote Cement accounted for 86 per cent of the transaction value as it recorded N25 billion invested in 95.478 million shares.
In all, the market rebounded rising by a marginal 0.03 per cent after declining the first trading day on profit taking. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) closed higher at 38,924.63, while market capitalisation ended at N13.56 trillion.
The appreciation recorded in the share prices of Nigerian Breweries, GTBank, Dangote Cement, FBN Holdings Plc and Nestle Nigeria was mainly responsible for the gain recorded in the index.
However, Union Bank of Nigeria Plc led the 21 price gainers with 10 per cent, trailed by Diamond Bank Plc with 7.1 per cent. Berger Paints Nigeria Plc chalked up 4.9 per cent, just as Caverton and NASCON Allied Industries Plc garnered 4.5 per cent and 4.0 per cent in that order.
Unlike the previous day when Nigerian Breweries Plc fell despite the news of appointment of a new group managing director/ceo, the stock appreciated yesterday to close higher at N143.32. The brewing giant has appointed Mr. Jordi Borrut Bel. as the new MD/CEO effective on January 22, 2018. He will succeed Mr. Johan Doyer, who has served as MD/CEO on an interim basis since June 16, 2017.
.Conversely, FCMB Group Plc led the 23 price losers, shedding 4.69 per cent. Fidelity Bank Plc and NAHCO trailed with 4.64 per cent apiece, while Linkage Assurance Plc and Sterling Bank Plc fell 4.62 per cent and 4.5 per cent respectively.
Meanwhile, performance across sectors was largely bearish as four of five indices closed in the red. The NSE Oil & Gas Index was the biggest loser shedding 0.4 per cent due to losses in Double One (-3.7 per cent). Following closely were the NSE Industrial Goods Index and NSE Insurance Index which fell 0.3 per cent apiece against the backdrop of price depreciations in Lafarge Africa (-0.9 per cent) and AXA Mansard (-0.5 per cent) respectively.
Similarly, sell offs in ETI (-4.0 per cent) and Access Bank (-1.4 per cent) dragged the NSE Banking Index 0.1 per cent lower.
On the positive side, the NSE Consumer Goods Index was the lone gainer, adding 0.3 per cent due to gains in Dangote Sugar Refinery and Nigerian Breweries Plc.