The Nigerian stock market continued its upward trajectory yesterday, building on Monday’s positive performance, driven by sustained interest in Dangote Cement (DANGCEM), which surged by 10.0%. The All-Share Index rose by 3.0% to reach 98,616.97 points, pushing the Year-to-Date returns to an impressive +31.9%.
Market activity witnessed an uptick as the total volume traded increased by 3.6%, reaching 747.51 million units, valued at NGN16.28 billion, and executed in 16,589 deals. Transcorp emerged as the most traded stock by volume, with 77.71 million units, while DANGCEM took the lead in value, trading at NGN3.11 billion.
In terms of sectoral performance, the Industrial Goods sector experienced a notable gain of 9.0%, followed by the Oil & Gas sector with a 5.6% increase, and the Consumer Goods sector with a 1.9% rise. However, the Insurance (-4.7%) and Banking (-2.7%) sectors faced losses.
Market breadth reflected a negative sentiment (0.3x), as 56 stocks recorded losses compared to 17 gainers. MBENEFIT (-10.0%) and PZ (-10.0%) topped the list of losers, while BUACEMENT (+10.0%) and SEPLAT (+10.0%) recorded the highest gains of the day.
