Dangote, Lafarge, 32 others spur market’s N190bn gain

Nigerian stock markets kicked-off this week on a bullish note, driven by some of analysts’ stock picks for 2017. At the close of trading on the Nigerian stock exchange (NSE), thirty-two (32) stocks advanced against 9 losers.

Three of analysts’ stock picks for the year 2017- Dangote Cement Plc, 7-Up Bottling Company Plc, Lafarge Africa Plc, topped the gainers list yesterday. Stocks value recorded new highs after adding N193 billion.  The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 2.21 percent or 557.68 points, while the Year-to-Date (YtD) return stood at -4.20 percent.

The All Share Index closed at 25,747.05 points against the preceding day close of 25,189.37 points, while the equities market capitalisation closed at N8.908 trillion as against preceding day close of N8.715 trillion. The volume of stocks traded increased stood at 211.757 million while the total value of stocks traded in 3,054 deals was N1.4 billion.

The financial services sector led Monday’s activities chart as Diamond Bank Plc traded with 49.978 million shares exchanged for N46.70 million; followed by Transnational Corporation of Nigeria Plc with 34.69 million shares traded for N36.23 million.

Stock traders exchanged Fidelity Bank Plc 28.47 million shares worth N23.34 million; followed by Zenith Bank Plc’s 26.57 million units worth N391 million; while they exchanged FCMB Group Plc 13.72 million valued at N13.72 million

Dangote Cement Plc led the list of advancers after gaining N6, from N159 to N165, while Lafarge Africa Plc followed with N4.71 gain from N46 to N50.1. The shares of the 7-Up Bottling Company Plc gained N4, from N89.95 to N93.95, Nigeria Breweries Plc  rallied from N120.11 to N123.5 adding N3.39; while Stanbic IBTC Plc gained 1.02, from N20.47 to N21.49.

On the laggard table, Nestle Nigeria Plc share price dipped most, from N750.3 to N713.5, down by N36.8; Okomu Oil Plc followed from N47.5 to N46.6, down by 9kobo, Nascon Allied Industries Plc lost 38kobo, from N7.74 to N7.36; Portland Paints & Products Nigeria Plc lost 7kobo from N1.89 to N1.82 while Nigerian Aviation Handling Company Plc lost 7kobo from N2.52 to N2.45.