Industrials lead stock market 0.55% growth

The NSE Industrial index led the equities market 0.55 per cent growth on Thursday, following Dangote cement’s confirmation on the acquisition of South African PPC Limited.

The industrial index buoyed by gains in Dangote Cement (N4.99) recorded a robust gain of 1.08 per cent, following the confirmation.

The leading cement firm, however, said the acquisition is in preliminary stages of discussion

Equities trading consequently closed in the positive territory on Thursday despite a 0.63 per cent; and 1.02 per cent decline recorded in the NSE’s banking and oil indices respectively.

The All-Share Index added 0.55 per cent to close at 35,660.04 points, while the market capitalisation added N69bn to close at N12.294 trillion on Thursday.

Investors in 3,241 deals moved 128.3million units of shares valued at N2.7bn in contrast to 119.9million units valued at N1.745bn traded in 3,015 deals on Wednesday

Okomuoil, Jaiz Bank and CI Leasing led the day’s gainers by a growth of 5.74, 4.48 and 4.35 per cent each, while Neimeth, Unilever and Conoil led the day’s decliners with a depreciation of 8.43, 5 and 5 per cent.

Afolabi Adesola