Dangote Cement, Eternal Plc, Led Gainers on Tuesday
Dangote Cement led gainers with a N14.6 increase to settle at N245 per share following plans to buy back 1.704 billion shares.
The company’s market value rose by 6.34 percent on Tuesday to N4.175 trillion immediately the details of the first tranche of the buyback plans became public.
Investors traded 442.221 million shares valued at N10.288 billion in 4,948 deals during the trading hours of Tuesday.
Also, read Dangote Cement to Buy Back 1.704 Billion Shares
Market value of listed equities closed at N19.805 trillion on Tuesday, while the NSE All-Share Index gained 1.20 percent to 37,893.6 index points.
The year to date return extended further to 40.7 percent on Tuesday, the highest globally going by Bloomberg tracked 93 indexes.
Nigerian investors jumped on Dangote Cement after the leading cement manufacturer announced it would be buying back a total of 1.704 billion shares in tranches starting from December 30, 2020.
Also, the announcement that a new investor is coming onboard of Eterna Plc following an agreement reached between current substantial shareholders and the intending new investor boosted the price of Eterna Plc by 10 percent or 41 kobo to N4.51 per share as investors interpreted the news as new capital inflow given the rebound in crude oil and reopening of the nation’s land borders. See the details of Tuesday’s transactions below.
Top Trades
| ZENITHBANK |
59,024,334 |
N1,445,449,067.15 |
| MANSARD |
39,268,569 |
N40,120,959.34 |
| GUARANTY |
38,218,079 |
N1,261,227,603.65 |
| JAPAULGOLD |
33,050,313 |
N13,009,882.79 |
| FBNH |
29,929,599 |
N209,453,565.45 |
Top Gainers
Top Losers
Also, read Substantial Shareholders Plan to Divest from Eterna Plc