Sunday, 13 October 2019
Dangote's Commercial Cement Leads as Trading Rate Rises 290%
Strong speculation on Dangote Cement Plc shares has recently increased the volume and value of stock market trading despite continued bearish dominance. Trading volume and value increased by 49.5% and 290%, respectively, to reach 363.2 million shares valued at 19 billion naira. Dangote Cement Plc has estimated at 114.7 million the number of shares N16.6 billion.
Despite the high market turnaround, the All-Share index of the Nigerian stock market fell by 0.06% to 26,583.75, while market capitalization rose close to 12.9 billion naira.
The market remained bearish as investors entered a cautious bargain pending a stimulus and corporate earnings report for the third quarter. To date, the market has decreased by 15.4%.
In total, 15 stocks lost value yesterday, while only eight were appreciated. WAPIC Insurance Plc was the biggest loser with 8.5%, followed by Linkage Assurance Plc with 7.8%. Custodian Investment Plc lost 5.8%, while Honeywell Flour Mills Plc and Royal Exchange Plc fell 5.0% and 4.7% respectively. Cutix Plc and Ecobank Transnational Incorporated depreciated to 3.21% and 2.6% in that order.
Fidson Healthcare Plc, which recently paid a dividend of 15 kobos per share to shareholders, was also among those who lost prices, down 1.3%. The chairman of the company, Segundo Adebanji, told the shareholders that the company will continue to strengthen its facilities in terms of fashion and processing.
He said that thanks to capital injections, business realignment and useful industrial alliances / collaborations, the board and management are ready to reposition the company to take advantage of market growth opportunities. .
He also said that the company's capital structure had drawn attention to how to reduce the level of indebtedness because they thought it would have a positive impact on the profitability of the company, because the future remains bright .
"We are currently developing the use of our capabilities by increasing production and outsourcing for other notable companies in the industry," said Adebanji.
Learn Africa Plc won 9.8%, followed by Livestock Feeds Plc with 9.3%. United Capital Plc earned 7.5%, while Associated Bus Company Plc earned 5.2%.
Wema Bank Plc and FBN Holdings Plc gained 3.4% and 0.9% respectively.