Dangote Cement, GTCO drive gain on NGX as index rises by 0.04%



Uba Group

Activity on the Lagos bourse on Thursday was mixed, albeit with a bullish tilt as the benchmark index closed 0.04 percent higher to settle at 55,822.14 points.

Gains in Dangote Cement Plc (+1.05%) and GTCO (+0.57%) offset the declines in MTN Nigeria (-0.48%) and WAPCO (-0.19%) losses. As a result, the market remains on track for a weekly gain.

The year-to-date (YTD) return rose to 8.92 percent, while the market capitalization rose by N11.44 billion to close at N30.41 trillion.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 13.42 percent.

A total of 311.48 million shares valued at N3.09 billion were exchanged in 3,627 deals. TRANSCORP (+8.66%) led the volume chart with 179.84 million units traded while GTCO (+0.57%) led the value chart in deals worth N1.10 billion.

Market breadth closed negative at a 1.88-to-1 ratio with advancing issues outnumbering declining ones. CONOIL (-9.93%) topped fourteen (14) others on the leader’s table while TRANSCORP (+8.66%) led seven (7) others on the leader’s log.