Nigeria’s stock market on Wednesday saw a reversal of recent loss trend as investors chose to revisit some bellwether counters like Dangote Cement Plc and others.
The decline recorded in the last few trading sessions created reentry opportunity for value hunters.
Amid renewed bargains, the value of listed stocks (market capitalisation) increased by N301 billion to N18.193 trillion, from preceding trading day low of N17.892 trillion.
The All Share Index (ASI), the benchmark performance indicator of the Nigerian Stock Exchange (NSE), increased by +1.68 percent to 34,818.01 points on Wednesday, from preceding day’s low of 34,242.83 points. The market’s positive return year-to-date (YtD) stood higher at +29.71 percent.
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Dangote Cement Plc led the list of stocks that rallied after its share price moved from N187.1 to N195, up by N7.9 or 4.22 percent. It was followed by Nigerian Breweries Plc which advanced from N54 to N58, adding N4 or 7.41 percent.
Also, Lafarge Africa Plc share price went up, from N22 to N24.1, adding N2.1 or 9.55 percent. Dangote Sugar Refinery Plc rallied from N21 to N22.25, up by N1.25 or 5.95 percent. Zenith Bank Plc went up, from N25.9 to N26.7, adding 80kobo or 3.09 percent.
In 7,324 deals, investors exchanged 661,132,435 units valued at N8.298 billion. Transcorp Plc, GTBank Plc, Zenith Bank Plc, Access Bank Plc and FBN Holdings Plc were actively traded stocks on the bourse.
