NGX Sustains Bullish Trend On Dangote Sugar, NASCON Merger Talks

Nigerian equities maintain their bullish trend as the local bourse rallies amid Investors’ confidence following merger talks between Dangote Sugar Refinery Plc and NASCON Plc.

The All-Share Index (ASI) traded 1.11% higher to close at 68,279.14 index points as against 67,527.19 index points recorded in the previous day’s trading session.

Likewise, the market capitalization of equities saw a gain of N412 billion to close at N37.370 trillion, 1.11% higher than the N36.958 trillion recorded in the previous trading session.

Market Indices

Below are the market indices for today’s trading session:

NGX ASI: 68,279.14 points

% Day Change: +1.11%

% YTD: +33.22%

Market Cap: N37.370 trillion

Volume Traded: 845.68 million

Value: N13.04 billion

Deals: 11,934

How Stocks Performed

Market breadth closed positive as DANGOTE SUGAR (10.00%) led gainers, CHIPLC (-10.00%) led losers while REGALINS was the most traded equity – by volume – at the end of today’s session.

Top Gainers and Top Losers

DANGOTE SUGAR, NASCON and JOHNHOLT led the top gainer’s chart as they all gained +10.00%, +9.98% and +9.92% respectively.

Meanwhile, CHIPLC, CORNERS and SUNU ASSURANCE led the top losers’ chart as they lost –9.57%, -9.29%, and –9.09% respectively.

Top Traded Stocks

There was higher trading activity in terms of volume as 845.68 million units of shares were traded today compared to the 503.75 million traded from the previous day’s session.

REGALINS led the chart in terms of volume as 83.31 million units were traded. FIDELITY BANK (58.33 million) and ZENITH BANK (34.54 million) rounded up the top 3 traded stocks for today.

In terms of value traded, ZENITH BANK (N2.80 billion) led the chart followed by UBA (N930.20 million) and FIDELITY BANK (N695.03 million) to round up the top three.

SWOOTs Watch

Shares of stocks worth over one trillion (shoot) saw mixed results as BUA FOODS (2.56%), GTCO (6.58%) and ZENITH BANK (7.85%) recorded positive trading sessions.

While MTN NIGERIA, DANGOTE CEMENT, BUA CEMENT, SEPLAT ENERGY and AIRTEL AFRICA all closed flat.

FUGAZ Update

Shares of tier 1 banks all saw positive trading sessions as GTCO (6.58%), UBA (6.43%), ACCESS HOLDINGS (2.62%), ZENITH BANK (7.85%) and FBN HOLDINGS (2.17%) gained.