Dangote Cement on Monday led the Gainers’ chart at the Nigerian Stock Exchange (NSE) appreciating by N9.70 to close at N134 per share as investors reacted to the company’s plan to build new plants.
The company appreciated by 7.8 per cent to close at N134 compared with N124.30 recorded on Friday.
Market analysts attributed the increase to the company’s plan to build new cement plants in Nigeria and increase local production capacity to 38.25 million tonnes per year from 29.25 million tonnes.
The company said that the new plants would help it cut cost of production and lower product prices in the market.
Nestle Nigeria followed with a gain of N2.02 to close at N705.02, while Seplat appreciated by N2 to close at N245 per share.
Unilever gained N1.50 to close at N31.84, while PZ increased by N1 to close at N21.90 per share.
Consequently, the All-Share Index appreciated by 475.23 points or 2.02 per cent to close at 23,977.10 compared with 23,501.87 posted on Friday.
Also, the market capitalisation inched N166 billion to close at N8.246 trillion against N8.082 trillion recorded on Friday.
Conversely, Guinness topped the losers’ chart, shedding N2.84 to close at N119.50 per share.
Mobil Oil trailed with a loss of N2.62 to close at N145.01, while Conoil declined by N2.09 to close at N20.25 per share.
Okomu Oil Palm shed N1.01 to close at N27.99, while Nigerian Breweries lost 85k to close at N95.20 per share.
Investors’ staked N1.69 billion on 190.39 million shares traded in 2,748 deals against 554.65 million shares worth N4.32 billion in 2,304 deals on Friday.
FCMB Group drove the activity chart, exchanging 38.53 million shares worth N34.22 million transacted in 201 deals.
Zenith Bank trailed with 29.33 million shares valued at N371.24 million traded in 252 deals, while FBN Holdings sold 21.68 million shares worth N85.20 million in 273 deals.
Stanbic IBTC traded 21.21 million shares valued at N297.01 million in 24 deals and UBA accounted for 15.43 million shares worth N43.37 million achieved in 166 deals.
