Gain in Dangote Cement drives NSE ASI by 0.26%

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The Nigerian Stock Exchange (NSE) closed positive for the second consecutive day since October as gain in Dangote Cement pushes upward, theNSE All-Share Index by 0.26 per cent to 27,631.05 basis points

The market capitalization closed on Friday at N9.50 trillion after gaining N43 billion from N9.457 trillion it opened for transactions.

Dangote Cement gained 0.66 per cent from N160.00 to N161.05, for the second straight trading day, as well as Nestle Nigeria that rose by 2.23 per cent to N825.00 from N807.00 on Thursday.

Other gainers include ETI that rose by 3.32 per cent to N16.50 while, WAPCO leapt by 1.53 per cent to N92.00

As per usual, the Banking sector, led by Guaranty Trust Bank and Access Bank, accounted for 73 per cent by volume in today’s trading market activities.

The Consumer Goods sector was the markets worst performer shedding  0.05 per cent driven by Unilever  thatr dropped by 4.91 per cent while Industrial was the best performing sector gaining 1.02 per cent.

Okomu Oil that gained 10.22 per cent topped the 21 gainers on Friday’s market while Unity Bank dip by 8.64 per cent to led 21 losers.

Meanwhile, activity in the Foreign Exchange market remained largely unchanged as the Naira traded range bound due to continued support from the Central Bank of Nigeria (CBN).

The USD/NGN thus traded between $/N197 – 199 on Friday’s session, with the CBN selling Dollars at $/N197 levels.

The local currency however closed down relative to the European currencies, falling by   0.73per cent against the Pound Sterling and depreciating by 1.09per cent against the Euro to settle at N298.05/£ and N217.42/€ respectively.

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