Dangote Cement, Forte oil buoy NSE’s indices by N66 billion

Transactions in the equities sector of the Nigerian Stock Exchange (NSE) re-opened on a bullish note yesterday, occasioned by price gains recorded by major highly capitalised stocks, especially Dangote Cement and Forte oil, as market capitalisation appreciated by N66 billion.

Yesterday, the market capitalisation of listed equities rose by N66 billion or 0.5 per cent to close higher at N12.913 trillion against N12.847 trillion on Friday.

Also, the All-share index appreciated by 192 points to close at 37,312.28 compared to 37,120.28 recorded on Friday.

On the price movement chart, Dangote Cement led the gainers’ chart with N8.99 kobo to close at N238 per share.

Forte Oil followed, adding N3.87 kobo to close at N47.97 per share. Okomu Oil gained N2.99 kobo to close at N67.99 per share.

Glaxosmithkline added 25 kobo to close at N25.25 per share. National Salt Company of Nigeria inched 14 kobo to close at N15.40 per share.

Nigerian Breweries topped the losers’ chart with N4.92 kobo to close at N138.98 per share while Guaranty Trust Bank followed with N1.31 kobo to close at N41.69 per share.

International Breweries lost 0.45 kobo to close at N49.55 per share. Custodian and Allied shed 0.18 kobo to close at N3.72 per share, while Zenith Bank depreciated by 0.16 kobo to close at N24.84 per share.

United Bank for Africa dropped 0.15 kobo to close at N9.55 per share. Vitafoam dropped 0.14 kobo to close at N2.81 per share. Honeywell flour mills shed 0.10 kobo to close at N2.02 per share.

Dangote Sugar Refinery shed 0.09 kobo to close at N15.16 per share. Caverton also loss 0.08 kobo to close at N1.60 per share.

The volume of shares traded rose by 91.89 per cent as investors bought and sold 336.34 million shares valued at N30.02 billion in 3,778 deals.

This was in contrast to a turnover of 175.28 million shares worth N2.65 billion sold in 3,235 deals on Friday.

Dangote Cement was the toast of investors with an exchange of 128.92 million shares worth N27.082 billion. FBN Holdings followed with an account of 77.56 million shares valued at N554.89 million and Fidelity Bank traded 15.90 million shares worth N26.75 million.

Diamond Bank sold 14.29 million shares valued at N16.48 million, while Guinness Nigeria exchanged 9.89 million shares worth N1.01 billion.