Dangote shareholders gain N293 billion as stock price rises

Positive sentiment witnessed on shares of some blue-chip firms quoted on the Nigerian Exchange has resulted in shareholders of Dangote Cement Plc gaining about N293 billion at the end of today’s trading session.

The stock rose by 7.77% to N238.50 per share from N221.30 the previous day.

Further analysis revealed Dangote Cement closed the day at N238.50 per share and N4.064 trillion in market capitalization on the Nigerian Stock Exchange (NGX) as against N221 per share and N3.771 trillion in market capitalization the previous day, hence earning a gain of N293 billion or 7.77%.

Meanwhile, the local Bourse (NGX) closed positive amidst positive market sentiment, as the bulls dominated proceedings for the second consecutive day.

READ ALSO: Dangote, Elumelu, others to headline Edo Alaghodaro 2022 summit

The All-share Index (ASI) appreciated by 1.07% to close at 43,942.82 index points as against the 43,477.48 index point the previous day. In the same vein, the overall market Capitalization grew by N253 billion or 1.07% to close at N23.934 trillion as against N23.681 trillion the previous day.

However, market breadth closed negative with 16 losers against 15 gainers as Julius Berger led the losers with 9.81% while MRS Oil Nigeria Plc led the gainers with 9.83%.

Investors in the Nigerian capital market went home with N253.45 billion following the growth in equity capitalization by 1.07 percent on Thursday.

Market data showed that the market capitalization rose from N23.68 trillion to N23.93 trillion after eight hours of trading today.

The All-Share Index increased by 465.34 basis points to end trading at 43,942.82, up from 43,477.48 achieved on Wednesday. Investors traded 405 million shares worth N3.09 billion in 3,188 deals on Thursday.

This surpassed the 133.40 million shares valued at N1.81 billion traded by shareholders in 3,078 deals the previous day.