Local Bourse Index Advances by 1.20% On Dangote Cement Shares Buyback

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The domestic equities market All Share Index (ASI) gained 1.20% to 37,893.61 points on the sustained interest in Dangote Cement shares which rose by 2.08% today; following the recent announcement of the commencement of its shares buyback.

READ: Implications of Tranche 1 Share Buyback Program by Dangote Cement

Dangote Cement Brandspurng Export Potentials Underscore Positive Topline Outlook
Photographer: Tom Saater/Bloomberg

Hence, the year-to-date gain of the NSE ASI climbed to 41.12% despite the
Exchange printing 22 losers as against 14 gainers. Also, the share prices of Tier-1 banks such as UBA and ZENITH BANK increased by 2.44% and 0.82%.

Performance across sub-sector gauges tracked was bearish as three out of the five indices tracked closed in red; the NSE Insurance, NSE Consumer Goods and NSE Oil/Gas rose by 0.49%, 0.24% and 0.33% respectively.

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Local Bourse Index Advances by 1.20% On Dangote Cement Shares Buyback Brandspurng

On the positive side, the NSE Banking and NSE Industrial indices rose by 0.06% and 3.35% respectively. Meanwhile, activity in the market was picked as the total volume and value of stocks traded rose by 3.55% and 210.86% to 0.44 billion units and N10.28 billion respectively.

Elsewhere, NIBOR moderated for most tenor bucket amid sustained liquidity ease; also, NITTY fell for most maturities tracked. In the OTC bonds market, the values of FGN bonds moderated for most maturities tracked; also, the value of FGN Eurobond declined for most maturities tracked.

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Local Bourse Index Advances by 1.20% On Dangote Cement Shares Buyback - Brand SpurLocal Bourse Index Advances by 1.20% On Dangote Cement Shares Buyback - Brand Spur
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Local Bourse Index Advances by 1.20% On Dangote Cement Shares Buyback - Brand SpurLocal Bourse Index Advances by 1.20% On Dangote Cement Shares Buyback - Brand Spur

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