Market Closes High On Dangote’s Returns As NSE President

 

Transactions on the Nigerian Stock Exchange closed in the green zone  yesterday which  some market watchers attributed to investors’ renewed confidence in the local bourse following the return of Alhaji Aliko Dangote as the President of the Council of  the Exchange after an Appeal Court ruling in his favour.
Market operators had predicted that the development would impact positively on the stock market which will eventually lead to an increase of investors’ confidence in the market.
The equity market had since last Thursday sustained negative trajectory as confidence level remained low.
Consequently, the All-Share Index climbed by 53.72 basis points or 0.25 per cent to close at 21,082.11 as against 21,028.11 the previous day while the market capitalisation appreciated by N18 billion or 0.25 per cent to close the day at N6.730 trillion in contrast to N6.712 trillion recorded on Monday.
A further review of transaction in the day showed that 23 companies pitched their tent on the gainers’ table while 25 others were listed on the laggard for want of poor patronage in the day’s trading.
Berger Paints and CCNN led the gainers’ chart after appreciating by five per cent each to close at N9.45 and N5.67 respectively. PZ followed with a gain of 4.99 per cent to close at N27.14.