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Wednesday, 27 September 2017

Nigerian stock rise 0.44 pct, driven by gains in Dangote, Zenith, Nestle shares

Nigeria stock closed marginally higher on Wednesday with the index rising 0.44 percent, driven by gains in the shares of Dangote Cement, Nestle and Zenith Bank.

The main market index rose to close at 35,104 points compared with 1.15 percent decline the previous day.Image result for Nigerian stock exchange
The local bourse has gained 30.62 percent year-to-date on the back of improved dollar supply and increase economic activities boosting the performance of listed companies.
Dangote Cement, which accounts for a third of the market capitalisation led the gainer, while Stanbic IBTC, Transcorp, Nestle and Zenith Bank were the major driver of the gains.
The Market Capitalization also appreciated today by 0.44 percent to close at 12.10 trillion, compared with 12.05 trillion the previous day.
Investors traded a total of 1.27 billion naira compared with 3.62 billion naira on Tuesday, representing 64.95 percent decline.

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