Bulls Reign, as Buying Interest in DANGCEM and Others, Lifts NGX-ASI by +1.07%

Stockbrokers work at the Nigerian Stock Exchange in Lagos on May 16, 2019. - Africa's largest mobile phone operator, MTN, listed shares on the Nigerian Stock Exchange (NSE) in a $6 billion flotation reflecting its increasing presence in the Nigerian market, its largest. (Photo by PIUS UTOMI EKPEI / AFP) (Photo credit should read PIUS UTOMI EKPEI/AFP via Getty Images)
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The Nigerian equity market closed trading activities for today bullish, as market performance indicators (NGX-ASI and Market Capitalization) surges by +1.07%, buoyed by buying interest in some blue-chip stocks such DANGCEM, AIRTELAFRI, and Others.

The market index (All-Share Index) grew by 465.34 basis points, representing an increase of +1.07% to close at 43,942.82. The Market Capitalization also gained ₦253.45 bn, representing a growth of +1.07% to close at ₦23,934.47 trillion from ₦23,681.02 trillion the previous day.

Market activities were up as well, as the Total Volume and Total Value traded for the day increased by 203.58% and 71.01% accordingly.

Approximately 405.00 million units valued at ₦3,096.53 million were transacted in 3,188 deals.

STERLNBANK was the most traded stock in terms of volume, accounting for 42.26% of the total volume of trades, followed by ACCESSCORP (19.45%), TRANSCORP (9.08%), GTCO (5.90%), and ZENITHBANK (4.24%) to complete the top 5 on the volume chart, while AIRTELAFRI was also the most traded stock in value terms, with 22.61% of the total value of trades on the exchange.

MRS topped the advancers’ chart with a price appreciation of 9.83 percent, trailed by COURTVILLE (8.70%), UNITYBNK (8.33%), DANGCEM (7.77%), NAHCO (3.54%), and nine (9) others.

Sixteen (16) stocks depreciated, topped by JBERGER with a price depreciation of -9.81% to close at ₦21.15, as CADBURY (-9.69%), PRESTIGE (- 9.52%), NB (-5.66%), UPDCREIT (-5.08%), MANSARD (-4.38%) and WEMABANK (-1.56%) also dipped in price.

In that regard, the market breadth also closed slightly negative, recording 15 gainers and 16 losers.

Furthermore, the sector performance was positive, as three out of the five major market sectors were up, led by the Industrial sector (+3.51%), followed the Oil & Gas sector (+0.12%), and the Banking sector (+0.01%), while the Insurance and Consumer goods sectors dipped by -1.72% and -0.66% respectively.

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