Business
NSE: Dangote Cement, MTNN, GTB help year-to-date return swing back to positive
The year-to-date return of stocks on the Nigerian Stock Exchange (NSE) came back to positive on Friday after staying negative for many months this year, driven by gains in bellwethers like Dangote Cement, MTNN, GTB, Dangote Sugar and Julius Berger.
The market has been on course for the comeback since the central bank’s declaration of cut in the benchmark lending rate from 12.5% to 11.5% last week, leading to ten days of consecutive gains on Friday.
Heavy buy pressure in bank stocks, which lifted the Banking Index by 1.59% to 315.33 basis points, making it the biggest advancer of the 5 sectorial indices, also supported gains.
Market breadth was positive with 19 gainers emerging against 10 losers.
The All Share Index (ASI) rose by 0.57% to 26,985.77 basis points while market capitalisation climbed to N14.105 trillion at the end of trade.
Year to date, the index is up by 0.54%.
TOP 5 GAINERS
Ikeja Hotel led the flock of gainers, appreciating by 9.78% to close at N1.01. UACN Property added 5.75% to end trade at N0.92. Transcorp went up by 5.17% to N0.61. Chams rose to N0.21, notching up 5% in the process. Dangote Sugar completed the top 5, climbing by 4.03% to N12.90.
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TOP 5 LOSERS
Cornerstone was the worst performing stock, declining by 7.69% to close at N0.60. Livestock fell to N0.56, losing 6.67%. UACN dipped to N6.50, recording 6.47% depreciation. Tranex shed 6.10% to close at N0.77. FCMB closed at N2.10, going down by 4.11%.
TOP 5 TRADES
459.791 million shares estimated at N4.305 billion were traded in 4,553 deals.
Zenith was the most active stock with 132.331 million units of its stocks worth N2.382 billion traded in 856 deals. 83.713 million units of Sterling Bank shares priced at N107.203 million exchanged hands in 76 transactions. UBA traded 43.321 million shares estimated at N264.936 million in 448 transactions. Access traded 40.904 million shares valued at N274.038 million in 212 deals. Fidelity Bank had 39.420 million shares valued at N73.063 million traded in 133 deals.
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