Nigeria’s equity market gains as Dangote Sugar, NB push up index
By Samuel Bankole
The Nigerian equity market rose marginally by 0.31 percent on Thursday as the rally in the shares of Seplat, Dangote Sugar and FCMB pushed up the index.
The All Share Index closed at 40,590.85 points from 40,394.37 points the previous day.
The market capitalisation of equities listed on the NSE increased to N21.224 trillion compared with N21.158 trillion the market closed the previous day.
The total volume traded closed with an exchange of 2,133.489 million units valued at N7.51 billion traded in 4,558 deals.
The market breadth was positive with 27 gainers as against 14 losers.
Shares in Seplat Petroleum closed higher at 10 percent while Dangote Sugar closed 3.87 percent and Nigerian Breweries rose 3.57 percent.
FCMB Group rebound by 2.65 percent after the banking unit announced the appointment of an acting managing director to replace the embattled chief executive officer Adam Nuru who stepped down to enable investigation into the allegations of paternity scandal he was allegedly involved in.
FCMB appointed Yemisi Edun, its executive director finance as the acting managing director on Wednesday.
The NSE 30 Index increased by 0.39 percent to close at 1,657.11 points as against 1,650.72 points as on the previous day.
Market turnover closed with traded volume of 145.34 million units.