Business
Dangote, GTB Shine As NGX Index Settles Higher At 0.2%
At the close of Tuesday’s equities trading session at the Nigerian Exchange Limited (NGX), the domestic bourse index advanced by 0.16 per cent to settle at 59,110.02 basis points amid sustained positive sentiment.
Gains in industrial giant, Dangote Cement, alongside banking names Guaranty Trust Holding Company and Access Holdings were the main drivers of the market’s overall performance having appreciated in share value by 0.14 per cent, 0.78 per cent and 0.34 per cent, respectively.
As a result, the Month-to-Date (MtD) and Year-to-Date (YtD) gains increase to +6.0 per cent and +15.3 per cent, respectively.
Market capitalisation settled higher at N32.19 trillion as equities investors cumulatively gained N51.82 billion.
As measured by market breadth, market sentiment was positive, as 50 tickers gained relative to 19 losers. On the performance board, Sky Aviation and Academy Press topped the gainers’ list after their respective share prices appreciated by 10.0 per cent, while C&I Leasing and Cornerstone Insurance recorded the most significant losses of the day as their share prices dipped by 10.0 per cent and 9.8 per cent, respectively.
Sectoral analysis indicated that the insurance sector was investors’ toast, as evidenced by a 1.85 per cent increase in its index. Additionally, the NGX Banking, NGX Consumer Goods, NGX Oil/Gas, and NGX Industrial indexes rose by 0.02 per cent, 0.06 per cent, 1.41 per cent, and 0.10 per cent, respectively.
Meanwhile, analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 19.61 per cent. A total of 588.85 million shares valued at N8.96 billion were exchanged in 8,272 deals.
United Bank for Africa led the volume chart with 78.51 million units traded, while Guaranty Trust Holding Company led the value chart in deals worth N2.11 billion.
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