Buying Interest In Dangote Cement, 20 Others Push Equities Market Up By 0.36%


Nigerian equities market yesterday closed in the green with a gain of 0.36 per cent, owing to price appreciation in Dangote Cement and 20 other stocks.

The All- Share- Index (ASI) rose by 95.94 points or 0.36 per cent to 26,872.09 points. Accordingly, investors gained N46 billion in value as market capitalisation went up to N12.970 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Flour Mills of Nigeria, Stanbic IBTC Holdings, MTN Nigeria, Dangote Cement and Dangote Sugar Refinery.

Capital market are of the view that the equities market is expected to sustain gains in the near term although sentiment still remains weak.

Analysts at United Capital Plc said that “Looking ahead, we still expect investors to position in value and dividend paying stocks, in expectation of making solid gains.”

Market breadth closed positive as 21 stocks posted gains, while 12 stocks posted declines. Cornerstone Insurance  recorded…

Source: Leadership Newspaper