Dangote sugar and GSK drive equity market up by 0.22%

Dangote sugar and GSK drive equity market up by 0.22%

Last week, significant gains in Dangote Sugar Refinery Plc (25%), Glaxo Smithkline Consumer Nigeria Plc (20.27%), and Nigerian Breweries (16.44%) propelled the Nigerian Exchange Limited All-Share Index to a 0.22% increase.

This positive trend translated into a N77 billion gain for investors, as the market capitalization rose to N35.48 trillion from the previous week’s N35.4 trillion.

The All-Share Index concluded at 65,198.08, up from 65,056.39, with a year-to-date return of 27.10%.

With the exception of NGX main board, NGX CG, NGX banking, NGX AFR bank value, NGX MERI growth, NGX MERI value, and NGX oil and gas indices, which experienced declines of 0.07%, 0.06%, 2.13%, 1.85%, 2.43%, 0.78%, and 0.68% respectively, all other indices saw gains.

The NGX ASeM index remained unchanged.

Investors traded a total of 2.575 billion shares worth N29.615 billion in 37,713 deals during the week, compared to 2.854 billion shares valued at N37.645 billion exchanged in 41,547 deals the previous week.

The financial services industry maintained its dominance on the activity chart in terms of volume, accounting for 1.921 billion shares valued at N16.514 billion traded in 17,689 deals.