Stock market advances by 1.59% as Dangote Cement rallies

The Nigerian stock market on Thursday closed on a bullish note, occasioned by 7.28% growth in the share price of Dangote Cement.

The All Share Index appreciated by 1.59% to close at 40,221.17 points from the previous close of 39,592.29 points.

Investors gained N328 billion as Market Capitalisation grew by 1.59% to close at N20.956 trillion from the previous close of N20.628 trillion.

An aggregate of 1.047 billion units of shares were traded in 3,752 deals, valued at N7.42 billion.

The Market Breadth closed positive as 20 equities emerged as gainers against 14 equities that declined in their share prices.

Percentage Gainers

University Press led other gainers with 9.82% growth to close at N1.23 from the previous close of N1.12.

Pharmadeko, May & Baker and Sovereign Trust Insurance among other gainers also grew their share prices by 9.81%, 9.17% and 9.09% respectively.

Percentage Losers

Chams Plc led other price decliners as it sheds 8.70% of its share price to close at N0.21 from the previous close of N0.23.

AXA Mansard and Jaiz Bank among other price decliners also shed their share prices by 4.12% and 3.23% respectively.

Volume Drivers

FBNH traded about 53.76 million units of its shares in 300 deals, valued at N430.46 million.

Transcorp traded about 23.31 million units of its shares in 87 deals, valued at N22.19 million.

GTCO traded about 19.42 million units of its shares in 203 deals, valued at N544.35 million.

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