Dangote Cement, NGX group boosts market performance up 1.01%

Dangote cement embraces alternative fuel to cut cost

Gains in the shares of Dangote Cement, NGX Group as well as 25 other stocks sustained the equities market’s bullish streak as the All Share Index (ASI) rose by 1.01 per cent to close at 45,890.52 points at the close of trading on Thursday.

 This is even as the year-to-date (YTD) return improved to 7.4 per cent while investors gained about N248 billion as market capitalisation closed at N24.724 trillion from an opening value of N24.476 trillion. 

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 Analysis of the market showed that the volume and value of stocks traded surged by 245.3 and 253.4 per cent respectively to 873.5 million units and N31.5 billion, exchanged in 4,342 deals.

 According to the NGX market data report, NNFM led the gainers’ chart with 9.92 per cent to close at N7.20 per share, Learn Africa followed with a gain of 9.32 per cent to close at N1.29, Cadbury notched up 7.95 per cent to close at N9.50, Linkage Assurance garnered 7.55 per cent to close at 0.57 kobo while Jaiz Bank increased 6.35 per cent to close at 0.67 kobo.

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 On the other hand, Dangote sugar led the laggards with 2.74 per cent to close at N17.75 per share. Stanbic was next with 2.70 per cent to close at N36, Ardova lost 2.60 per cent to close at N13.10, FCMB fell by 1.67 per cent to close at N2.95 while Honeywell Flour depreciated by 1.49 per cent to close at N3.30.

 On the activity chat, Dangote Cement (102.9 million units), FBN Holdings (54.0 million units), and Transcorp (34.1 million units) led by volume while Dangote Cement (N28.8 billion), FBN Holdings (N648.0 million), and Seplat(N406.0 million) led by value.

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