Zenith Bank, Lafarge, Others Gain As Equities Surge By N199bn

The appreciation of stocks of Dangote Cement, Lafarge Africa, Zenith Bank, Guaranty Trust Bank and Guinness Nigeria contributed to the rise of the All-Share Index, (ASI) by 1.10 per cent on Tuesday.

The appetite for the shares of these capitalized equities saw the ASI closing at 35,225.22 basic points, compared to the 34,843.44 basic points it posted on Monday.

The market capitalisation was also impacted, growing by N199bn to close at N18.410 trillion as against the N18.211 trillion it recorded the previous day.

Also, the market turnover Increased, as investors traded in 264.241 million shares worth N2.947 billion in 4,354 deals, in contrast to 208.094 million worth of shares valued at N3.700 billion in 4,154 deals on Monday.

The market breadth recorded a positive trajectory, with 42 gainers and 14 losers as against 41 gainers with 14 losers the equities market posted on Monday.

The losers’ table in percentage parameters was led by Grief Nigeria Plc which dipped by 9.89 per cent to close at N8. 2 per share.

Red Starex followed closely when its stocks dropped by 9.76 per cent to close at N3.05 per share, while FCMB Group fell by 4.97 per cent to close at N2. 87 per share.

In the same trajectory, international Breweries declined by 3.09 per cent to close at N6.27 per share, while Ardova Plc depreciated by 1.23 per cent to close at N12. 05 per share.

Conversely, the gainers’ table in percentage parameters was dominated by Lafarge Africa climbing by 7.14 per cent to close at N22. 5 per share.

Also, Zenith Bank and Dangote Cement appreciated by 3.98 and 3.72 per cent to close at N23. 5 and N195 per share respectively.

In the same vein, Guinness Nigeria and Guaranty Trust Bank rose by 1.98 and 1.67 per cent to close at N18 and N33.55 per share respectively.

The market activity chart was led in volume ramifications by Acess Bank, which sold 36. 472 million shares worth N295. 340 billion. While, FBN Holdings traded in 33.830 million worth of shares valued at N236.635 million.

Also, Zenith Bank followed when it sold 23.416 million shares worthN538.620 million. Closely followed was Dangote Sugar Refinery selling 23.031 million shares worth N407.569 million, as Jaiz Bank completed the top five activity chart trading in 22.156 million shares at N13.423 million.