Stock market sustains rally by N150bn on Dangote Cement gain

The Nigerian Exchange (NGX) sustained the bullish momentum on Wednesday with N150 billion growth, following interest in Dangote Cement and 24 others.
Specifically, the market capitalisation which opened at N20.266 trillion inched higher by N150 billion or 0.74 per cent to close at N20.416 trillion.
Similarly, the All-Share Index rose by 289.25 points or 0.74 per cent to close at 39,170.95 from 38,881.70 recorded on Tuesday.
Consequently, month-to-date gain increased to 1.9 per cent, while year-to-date loss moderated to 2.7 per cent.
The market upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Okomu Oil, Dangote Cement, NASCON Allied Industries, Lafarge Africa and Flour Mills.
Market sentiment was positive with 25 gainers compared with six laggards.
Cutix drove the gainers’ chart in percentage terms with 10 per cent to close at N2.53 per share………..TO CONTINUE READING CLICK HERE

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