Dangote Cement, Lafarge, Flour Mills, others help NSE’s positive start to Yuletide season

The Nigerian Stock Exchange (NSE) All Share Index (ASI) gained 1.74percent on the first trading day into the yuletide season, thanks to value counters like Dangote Cement Plc, BOC Gas Plc, Flour Mills Plc, Lafarge Africa Plc and PZ Cussons Plc.

The NSE ASI and Market Capitalisation which opened the new week at 36,804.75points and N19.236 trillion respectively closed Monday December 21 at 37,443.40 points and N19.570trillion. Investors booked about N334billion gain at the close of trading. Month-to-date (MtD), the market has risen by 6.85percent, while year-to-date (ytd) it has moved up by 39.50percent.

While 23 stocks gained as against 23 losers, Dangote Cement led the rally, moving from N209.5 to N230.4, up N20.9 or 9.98percent, while BOC Gas followed after it share price went up from N7.2 to N7.92, adding 72kobo or 10percent.

Also on the top advancers list includes Flour Mills which rose from N26 to N26.65, adding 65kobo or 2.50percent; followed by Lafarge Africa which went up from N22 to N22.5, gaining 50kobo or 2.27percent; followed by PZ Cussons which increased from N5 to N5.35, adding 35kobo or 7percent.

In 5,258 deals, equity traders exchanged 427,059,399 units valued at N3.309billion. AXA Mansard, Japaul Gold, Transcorp, and AIICO were actively traded stocks on Monday.

In their December 21 note to investors, Lagos-based analysts at Vetiva said they expect a more mixed trading session on Tuesday “as investors continue to monitor the situation regarding the spike in Coronavirus cases and the threat of further disruptions to economic activity. Whilst we expect investors to continue snapping up attractive counters, whilst profit taking will likely persist in the banking space”.