Nigerian Stock Market Surpasses N111 Trillion on Dangote Cement Demand

The Nigerian Stock Exchange (NGX) witnessed a surge in market capitalization, exceeding N111 trillion due to increased demand for Dangote Cement Plc and other listed stocks. Dangote Cement's stock price rose by 8.81% to close at N739.90 per share from N680 per share the previous week.

The NGX All-Share Index also increased by 1.29% to 2,218.73 basis points. Various sectors experienced gains, with the industrial goods index rising by 4.8%, oil and gas index by 1.3%, and consumer goods index by 0.7%.

Market breadth was bullish with 58 advancing stocks compared to 23 declining counters. Notable gainers included Cap Daar Communication, Mai Baker Nigeria, and RT Briscoe Nigeria, while Eunisell Interlink and Tripple Gee Company were among the top losers.

Trading volume decreased by 18.72% to 775.177 million units valued at N27.916 billion. Active stocks included Access Bank, Zenith Bank, and Veritas Kapital Assurance.