DANGCEM’s interest in SA’s PPC spike gains in Nigerian Bourse as Index up 0.55%


The All Share Index (ASI) rose further by 0.55 per cent today to close at 35,660.04 points with gains recorded in the industrial good sector, as against a growth of 0.19 per cent recorded on Wednesday.

The market capitalisation also gained N69 billion to close at N12.294 trillion pushing the year to date returns to 32.69%

The day’s performance was strengthened by gains in Dangote Cement which added N4.99 on the backdrop of its confirmation on its interest in acquiring South African PPC Limited, which the company said is still at preliminary stages

The industrial index thus gained 1.08 per cent, while the NSE Banking and Oil&Gas indices dropped by 0.63 per cent and 1.02 per cent respectively.

Okomuoil, Jaiz Bank and CI Leasing led the day’s 16 gainers by a growth of 5.74, 4.48 and 4.35 percent each, to close at N66.50, 70kobo and N1.20 respectively while Neimeth, Unilever and Conoil led the day’s 22 decliners with a depreciation of 8.43, 5 and 5 per cent each closing at 76 kobo, N27.55and N41.80 per share respectively.

Zenith, Guaranty and Skye Bank were the most active to boost market turnover, as investors in 3,241 deals moved 128.3 million units of shares valued at N2.7 billion in contrast to 119.9 million units valued at N1.745 billion traded in 3,015 deals on Wednesday.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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