Stocks see biggest rise in 2019 as bargain hunting in Dangote cement continues

The equities market sustained the bullish trend which started in Thursday’s trading following increased interest in market bellwether stocks and banking stocks as the benchmark index rose 1.06 percent at the close of trading.

In today’s market moves, Dangote Cement gained 3.21 percent to close at N177 while First bank Holdings gained 4.23 percent to close at N7.4. Similarly, Access Bank Plc. surged 6.60 percent to close at N5.65 and Guaranty Trust inched higher by 0.9 percent to close at 33.50 while Zenith Bank gained 1.16 percent to N21.85 to close the week on a positive note.

So far, Year to date losses for the market has moderated to -5.09 percent while market capitalisation stands at N11.12 trillion as analysts expect short lived rallies to follow bargain hunting.

 

Segun Addams and Olufikayo Owoeye