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Stocks sustain rally as investors buy Dangote Cement, Okomu Oil, others

....records N136billion gain

Nigeria’s stock market sustained its week-open gains on Tuesday May 19, as investors hunted for shares of Dangote Cement Plc and other value counters like Okomu Oil and GTBank.
Following their gains and that of other large cap stocks the Nigerian Stock Exchange (NSE) All Share Index (ASI) rose by 1.09percent to close the day at 24,202.87 points, from preceding day low of  24,010.19 points.
The value of listed stocks increased from N12.477trillion on Monday to N12.613trillion, up by N136billion.
Okomu Oil led the gainers table after its share price moved from N58.55 to N64.4, up N5.85 or 9.99percent.
Dangote Cement followed after its share price moved from N143.5 to N147.5, adding N4 or 2.79percent. Also, Presco increased from N40.05 to N41.5  up N1.45 or 3.62percent.
Unilever rallied from N13.7 to N15.05, up N1.35 or 9.85percent, while GTBank increased from N22.75 to N23.3, adding 55 kobo or 2.42percent.
This week, the market has advanced by 1.39percent, while it has gained 5.13percent this month. Year-to-date (YtD) negative return has moderated to – 9.83percent.
Access Bank, GTBank, Zenith Bank, FBN Holdings and Lasaco were actively traded stocks on Tuesday.
In 4,784 deals, investors exchanged 339,756,744 units valued at N3.921billion.

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