Market rises by 0.09% as Dangote Sugar, NNFM, other stocks gain

Nigeria’s equities market rose by 0.09 percent on Thursday, halting the negative trend that had pushed the market lower.

Stocks like Northern Nigeria Flour Mills (NNFM), Dangote Sugar Refinery, John Holt, and The Initiative helped re-route the market for good.

NNFM rose from N49.50 to N54.45, adding N4.95 or 10 percent, followed by Dangote Sugar which increased from N36.85 to N40.50, adding N3.65 or 9.91 percent.

Also, The Initiates rose from N2.55 to N2.80, up by 25kobo or 9.80 percent, while John Holt rose from N8.47 to N9.30, adding 83kobo or 9.80percent.

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The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased from preceding day’s lows of 102,095.95 points and N62.256 trillion respectively to 102,183.06 points and N62.309 trillion.

Despite the positive close, the market’s return this year remains in negative zone of – 0.72 percent drive by record dip in shares of Dangote Cement, while this week it has decreased by – 3.10 percent.

In 12,336 deals, investors exchanged 472,162,762 shares worth N16.695billion. GTCO, Universal Insurance, Fidelity Bank, Access Holdings, and NASCON were actively traded stocks on Thursday.