Stock Market Gained N130bn as Dangote, Zenith, Others Closed Higher

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  • Stock Market Gained N130bn as Dangote, Zenith, Others Closed Higher

The Nigerian Stock Exchange (NSE) closed in the green on Wednesday as stocks of Dangote Cement, Zenith Bank, GTbank and others expanded during the trading hours.

The NSE-All Share Index gained 1.03 percent from 24,202.87 basis points recorded on Tuesday to settle at 24,452.23 basis points on Wednesday, while the market capitalisation of listed equities rose by N130 billion from N12.613 trillion to N12.743 trillion.

Activity level was positive as 436.838 million shares valued at N5.410 billion were traded in 5,190 deals.

This was after President Muhammadu Buhari forwarded the name of Mr. Lamido Yuguda to the Senate for approval as the new Director-General of the Securities and Exchange Commission.

In terms of volume traded, Zenith Bank led with a total share of 75.074 million. This was followed by Access Bank’s 50.760 million shares. Guinness, UBA and Guaranty Trus Bank added 34.204 million, 31.469 million and 31.074 million, respectively.

Zenith Bank also led in terms of the value of shares exchanged as N1.217 billion worth of shares were traded on Wednesday. GTBank, Guinness and UBA followed with N740.916 million, N581.909 and N206.307 respectively.

Top Gainers

Dangote Cement led the chart with N2.5 gain to settle at N150 per share while Zenith Bank added N0.65 to close at N16.5 per share. This was followed by BUA Cement, Guaranty Trust Bank and Stanbic IBTC with N0.6, N0.55 and N0.35, respectively.

Top Losers

WAPCO, Access Bank, Unity Bank, Wema Bank and UNIONDAC declined by N0.3, N0.05, N0.02, N0.01 and N0.01, respectively.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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