NSE: Dangote Cement gain helps halt eight-day losing streak

Nigerian stocks bounced back from eight days of consecutive losses on Thursday as the benchmark index rose by 0.78 per cent, largely supported by gains in the shares of Dangote Cement, Nigeria’s biggest company by market value, Mutual Benefits Assurance, Sovereign Trust Insurance, Vitafoam and Unilever.

The Industrial Index was the only advancer of the five sectorial indexes as it climbed by 2.57 per cent to 2,013.66 index points, helping gains.

Trade ended with a negative breadth with 46 laggards recorded against 7 gainers.

The All Share Index (ASI) inched up to 41,014.30 index point while market capitalisation grew to N21.456 trillion at the end of trade.

Year to date, the index is up by 1.85 per cent.

TOP FIVE GAINERS

Dangote Cement led the flock of gainers today, appreciating by 7.04% to close at N228. Mutual Benefits added 5.41% to end today’s trade at N0.39. Sovereign Trust went up by 3.70% to N0.28. Vitafoam rose to N9.30, notching up 3.33% in the process. Unilever completed the top 5, climbing by 2.57% to N13.95.

TOP FIVE LOSERS

Livestock led losers at Friday’s trade, declining by 10% to close at N2.25. Linkage Assurance shed 10% to end today’s trade at N0.54. NAHCO fell to N2.08, losing 9.96%. NNFM slumped to N7.02, recording 9.88% depreciation. Portland Paint closed at N2.84, going down by 9.84%.

TOP FIVE TRADES

1.274 billion shares estimated at N6.397 billion were traded today in 6,573 deals.

Living Trust was the most active stock with 796.454 million of its stocks worth N493.801 million traded in 1 deal. 55.749 million units of Transcorp shares priced at N50.535 million exchanged hands in 232 transactions. FBN Holdings had 51.939 million shares valued at N364.509 million traded in 278 deals. UBA traded 48.776 million shares estimated at N380.208 million in 336 transactions. Zenith traded 37.105 million shares valued at N885.230 million in 570 deals.