Amaechi Raphael Chinedu
@Official_ARC·13h
Dangote Cement hit the 10% limit again, and the NGX jumped 1.65% today
Monday's close: the All-Share Index rose 1.65% (+4,068.27 pts) to 251,290.54, its second straight gain. About ₦2.64trn was added to market value, which now stands at ₦163.16trn. Year to date, the index is up 61.48%.
The big story was one stock. 
$DANGCEM rose the maximum 10% for a second session in a row, from ₦1,111 to ₦1,222.10. On Friday it went from ₦1,010 to ₦1,111, so that's two limit-up days back to back. It was also the most valuable trade of the day at ₦6.39bn, about a quarter of everything traded, and it lifted the Industrial Index 5.37%.
Banks helped too. The Banking Index gained 2.34%, with First HoldCo up 7.56%, Access Holdings 4.15%, GTCO 2.54% and ZENITHBA$ZENITHBA was also the most traded stock by volume at 25.92m shares. NGX Group added 8.20%.
But look under the hood: more stocks fell than rose, 30 decliners against 24 gainers. A few heavyweights carried the index while the wider market was mixed. ABC Transport (-9.59% to ₦6.60), Caverton (-9.37% to ₦4.35) and Livestock Feeds (-9.09% to ₦15.50) led the losers. Honeywell Flour (+9.78% to ₦19.65) and Royal Exchange (+9.18% to ₦1.07) joined Dangote Cement at the top. Volume fell 46% to 329.53m shares, but value rose about 10% to ₦25.45bn across 43,700 deals.
Why it matters: when one big stock moves this much, the index can rise even on a day when most stocks slip. Your own portfolio may have had a very different Monday from the headline number.
Coming up: the Dangote Refinery IPO closes tomorrow, Oct 27, and more Q3 results are landing this week.
Curious how today actually hit your holdings? Add your portfolio on Gopexly and see it in your own numbers.
Not financial advice, just the close.
$DANGCEM rose the maximum 10% for a second session in a row, from ₦1,111 to ₦1,222.10. On Friday it went from ₦1,010 to ₦1,111, so that's two limit-up days back to back. It was also the most valuable trade of the day at ₦6.39bn, about a quarter of everything traded, and it lifted the Industrial Index 5.37%.
Banks helped too. The Banking Index gained 2.34%, with First HoldCo up 7.56%, Access Holdings 4.15%, GTCO 2.54% and ZENITHBA$ZENITHBA was also the most traded stock by volume at 25.92m shares. NGX Group added 8.20%.
But look under the hood: more stocks fell than rose, 30 decliners against 24 gainers. A few heavyweights carried the index while the wider market was mixed. ABC Transport (-9.59% to ₦6.60), Caverton (-9.37% to ₦4.35) and Livestock Feeds (-9.09% to ₦15.50) led the losers. Honeywell Flour (+9.78% to ₦19.65) and Royal Exchange (+9.18% to ₦1.07) joined Dangote Cement at the top. Volume fell 46% to 329.53m shares, but value rose about 10% to ₦25.45bn across 43,700 deals.
Why it matters: when one big stock moves this much, the index can rise even on a day when most stocks slip. Your own portfolio may have had a very different Monday from the headline number.
Coming up: the Dangote Refinery IPO closes tomorrow, Oct 27, and more Q3 results are landing this week.
Curious how today actually hit your holdings? Add your portfolio on Gopexly and see it in your own numbers.
Not financial advice, just the close.0 views
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