Nigerian Brew, Dangote Cement Bolster Nigerian Stock Exchange on Wednesday

• Nigerian Brew, Dangote Cement Bolster Nigerian Stock Exchange on Wednesday

The Nigerian Stock Exchange rose slightly on Wednesday following solid financial results reported by Dangote Cement for the first quarter of the year despite the global pandemic.

The bourse expanded by 0.07 percent to settle at 25,221.23 basis points, up from 25,204.75 it closed on Friday. While the market capitalisation of listed equities grew by N8 billion from N13.136 trillion it closed on Friday before the public holidays to N13.144 trillion.

Activity level was largely unchanged as a total of 581.606 million shares valued at N5.590 billion were exchanged in 7,759 deals during the trading hours of Wednesday.

In terms of volume traded, the FBNH led with 120.862 million shares valued at N681.865 million while Zenith Bank, Guaranty Bank, UBA and Transcorp followed with 67.266 million, 62.688 million, 45.789 million and 36,542 million shares worth N1.192 billion, N1.652 billion, N328.617 million and N26.993 million, respectively.

Top Gainers

Nigerian Breweries led the top gainers’ chart with N3.95 profit to close at N43.45 per share. This was trailed by Dangote Cement with N3.3 to settle at N137.3 per share. Stanbic, Guinness and Dangote Sugar added N3.25, N1.45 and N1.2 respectively.

Top Losers

Shares of ARDOVA declined by N1.6 to close at N14.4. Caverton, NAHCO, AFRIPRUD and Transorp lost N0.08, N0.05 and N0.05 to settle at N2.32, N4.2 and N0.72 respectively.