GSK, Dangote Sugar boosts stock market by 0.22%

Bisola David
Bisola David
Stock market loses N89bn as inflation reaches 26.72%

The Nigerian Exchange Limited All-Share Index increased by 0.22 percent at the conclusion of the previous week due to gains in the stocks of Dangote Sugar Refinery Plc (25%) and Glaxo Smithkline Consumer Nigeria Plc (20.27%).

The Punch reported that the market capitalization increased to N35.48 trillion from N35.4 trillion the previous week, giving investors a gain of N77 billion.

The All-Share Index also increased from 65,056.39 to 65,198.08. Likewise, the returns for the year as a whole increased to 27.10%.

Except for the NGX main board, NGX CG, NGX banking, NGX AFR bank value, NGX MERI growth, NGX MERI value, and NGX oil and gas indices, which declined by 0.7%, 0.6%, 2.13 %, 1.85 %, 2.43 %, 0.78 %, and 0.68 %, respectively, all other indices ended higher. NGX ASeM index closed flat.

Investors traded a total of 2.575 billion shares worth N29.615 billion in 37,713 transactions last week, down from a total of 2.854 billion shares worth N37.645 billion in 41,547 transactions the week before.

According to volume, the financial services sector continued to dominate the activity chart with 1.921 billion shares worth N16.514bn traded in 17,689 deals.

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