Dangote Cement, other stocks cause market’s first gain this week

Bargain hunting by investors on Wednesday at the Nigerian Exchange Limited (NGX), particularly in favour of stocks like Dangote Cement Plc, Oando Plc and Transnational Corporation Plc helped the market to record its first gain this week.

The market rose by 0.90percent at the close of trading session on Wednesday.

Dangote Cement rallied most, from N276 to N290, up by N14 or 5.07percent. It was followed by that of Oando Plc which rose from day open low of N4.47 to N4.91, adding 44kobo or 9.84 percent. Also, Transnational Corporation Plc increased from N1.40 to N1.50, adding 10kobo or 7.14percent.

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The Nigerian Exchange Limited (NGX) All-Share Index (ASI) appreciated from preceding day’s lows of 53,124.63 points to 53,603.80 points. The value of listed stocks increased to N29.201trillion.

In 3,906 deals, investors exchanged 236,066,958 shares valued at N3.258billion.

Also, the market’s year-to-date (YtD) positive return increased to +4.59percent. Transcorp, Zenith Bank, GTCO, UBA, and Sterling Bank were actively traded stocks.