Dangote Cement, 19 Others Inspire Stock Market’s N113b Gain

By Modupe Gbadeyanka

At the close of market activities on the first trading day of the second week in 2017 on Monday, a total of 20 equities led by Dangote Cement inspired the N113 billion gain recorded by investors in the Nigerian stock market.

This is the second time in 2017 the Nigerian Stock Exchange (NSE) is closing strong.

Business Post correspondent reports that 16 stocks, however, depreciated in price, while 17 equities remained flat.

While the all-share index advanced by 328.83 points or 1.25 percent to finish at 26,580.22 points, the market capitalisation rose by N113 billion to end at N9.15 trillion.

Though the volume of shares traded on the floor of the NSE today improved slightly, however, the value dropped by N103 million.

At the end of the day, the stock market sold 219 million shares worth N1.41 billion executed in 3,423 deals, compared with the 210 million exchanged last Friday in 2,659 deals valued at N1.5 billion.

Dangote Cement led the gainers’ chart with a growing by N2 to close at N169 per share, while GTBank trailed with a gain of N1.6k to finish at N24.60k per share.

Also, Total improved by N1 to close at N300 per share, Zenith Bank chalked up 72k to end at N15.49k per share and UACN appreciated by 36k to finish at N17 per share.

Conversely, 7up led the top losers after crashing by N6.45k to end at N122.55k per share, while Ashaka Cement fell by 57k to close at N10.86k per share.

Likewise, Cadbury dropped by 47k to end at N9.3k per share, Forte Oil depreciated by 21k to finish at N80.37k per share, while Capital Hotel declined by 17k to close at N3.33k per share.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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