Dangote Cement Lifts Nigerian Equities

The Nigerian equities market recovered from prior losses as renewed investor interest lifted the All-Share Index by more than one percent. The benchmark index advanced to 144,928.36 points, while the market’s total value rose to roughly ninety-two trillion naira.

The sharp uptick in performance pushed the market’s year-to-date return above forty percent, reflecting sustained appetite for heavyweight stocks. Strong demand for Dangote Cement, NCR, and International Breweries helped offset declines recorded in companies such as Ikeja Hotels, Legend, and LivingTrust.

Despite the rebound, overall trading activity presented a mixed picture. The number of shares traded fell significantly, dropping by more than half, even though the total value of transactions more than doubled. This suggests heightened focus on high-value counters rather than broad-based market participation.

AccessCorp dominated trading volume with over three hundred million shares exchanged, while SEPLAT led in value terms. Other active stocks included Zenith Bank, Fidelity Bank, FCMB, and GTCO.

Sectoral performance was led by industrial goods, driven largely by strong interest in cement stocks. Consumer goods, banking, insurance, and oil and gas sectors also closed positive, indicating a general lift across major market segments.

Market watchers note that the resurgence in blue-chip stocks reflects selective positioning by investors as the year winds down. They caution, however, that the steep drop in market volume signals lingering caution among traders, even as large institutional players continue to make significant value purchases.