DANGCEM Led 19 Others To Halt Equity Market Downtrend

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Employees work on the trading floor at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria, on Monday, Oct. 26, 2015. Nigeria plans to create a $25 billion fund with public and private financing to modernize infrastructure and avoid a recession, Vice President Yemi Osinbajo said. Photographer: George Osodi/Bloomberg via Getty Images
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Lagos Custom Street bull regained strength as the market performance indicators (NGX-ASI and Market Capitalization) surged by 1.47 percent following investors’ renewed interest in DANGCEM and 20 other stocks. Consequently, the All-Share Index rose by 724.76 basis points representing a 1.47 percent growth, to closed at 50,075.47. While the Market Capitalization gained ₦390.92Bn, representing an increase of 1.47 percent to close at ₦27.01 trillion.

→ Likewise, the market activities were bullish, as the Total Volume and Value surged by 98.58 percent and 30.14 percent, respectively. About 279.22 million units valued at ₦2.08 billion were transacted in 3,576 Deals. JAIZBANK emerged as the most traded stock in terms of volume, accounting for 41.23 percent of the total volume of trades, followed closely by FBNH (14.31%), UBA (5.25%), AIICO (4.98%) and JAPAULGOLD (4.75%) to complete the top five on the volume chart. Also, FBNH appeared as the most traded stock in value terms, with 20.72 percent of the total value of trades on the exchange.

→ DANGCEM topped the advancers’ chart with a price appreciation of 9.96 percent, trailed by JAPAULGOLD (8.82%), AFRIPRUD (5.45%), ETERNA (2.80%), GUINNESS (1.20%), ZENITHBANK (0.94%), ETRANZACT (0.44%) and thirteen (13) others. On the flip side, ten (10) stocks depreciated, led by WAPCO with a price decline of 8.84 percent to close at ₦23.20, as HONYFLOUR (-6.41%), UACN (-5.36%), CUTIX (-2.67%), TRANSCORP (-1.79%), UCAP (-1.56%) and ACCESSCORP (-0.56%) also dipped in price. As such, the market breadth was positive, recording 20 gainers and 10 losers.

→ Conclusively, sectoral performance was positive, as all the five major sectors closed bullishly compared to the previous session, led by Industrial Goods (4.35%), Insurance (1.91%), Banking (0.42%), Consumer Goods (0.33%) and Oil & Gas (0.06%), respectively.