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Dangote Cement Strong Q3 Results Boost Nigerian Stock Market on Friday



Nigerian Stock Market Gained N144 billion on Friday

Dangote Cement strong third quarter results released on Friday bolstered Nigerian Stock Exchange to sustain its recent bullish run above N16.2 trillion market value.

Investors transacted 637.495 million shares worth N5.229 billion in 6,354 transactions during the trading hours of Friday.

The market capitalisation of the Nigerian Stock Exchange gained N144 billion from N16.062 trillion it closed on Thursday to N16.207 trillion on Friday.

NSE All-Share Index appreciated by 0.90 percent from 30,738.92 on Thursday to settle at 31,016.17 on Friday.

The banking sector led the most traded equities ahead of their third quarter financial results next week.

Omoluabi Mortgage Bank Plc led the most traded stocks with 139.500 million shares valued at N83.700 million. This was followed by First Bank with 91.366 million shares worth N594.947 million.

Sterling Bank came third with 51.504 million shares estimated at N93.697 million. Access Bank and UBA followed with 47.271 million and 44.549 million shares valued at N382.074 million and N356.442 million, respectively.

Dangote Cement emerged the highest gainer for the day after appreciating by N5.5 or 3.25 percent to settle at N174.5 per share.

GTBank came second with N1.2 or 3.72 percent gain to close at N33.5 per unit. Presco, Guinness and Dangote Sugar added N1.1 or 1.67 percent, 95 kobo or 5.74 percent and 95 kobo or 6.11 percent to call it a day at N67, N17.5 and N16.5 per shares, respectively.

On the other hand, BUA Cement led top losers with N2.45 or 5.39 percent decline to settle at N43 a share.

Flour Mills, Mansard and Nem depreciated by 40 kobo, 20 kobo and 18 kobo to finish the day at N27.2, N2 and N2.05 per shares.

Oando lost 60 kobo or 2.17 percent to close at N2.7 a unit.

Source: Naija News

Is a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.