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CCNN, Dangote Cement drive NSE capitalistion by N37bn

By Nkiruka Nnorom
Gains recorded in two cement manufacturing interests namely, Dangote Cement Plc and Cement Company of Northern Nigeria, CCNN, today drove the Nigerian Stock Exchange, NSE, market capitalisation to a positive close after five days of negative activity.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

Specifically, the market capitalisation, which opened at N15.180 trillion rose by N37 billion or 2.4 percent to close at N15.550 trillion following the buy pressure on the stocks.

CCNN led the pack rising by 8.52 percent to close at N19.75 from N18.20. Dangote Cement, the most capitalised stock in the market, appreciated by 4.98 percent to close at N269.80 from N257.00.

Other gainer include Japaul Oil and Maritime Services Plc, that rose by eight percent to close a N0.54 from N0.50; NEM Insurance Plc chalked up by five percent to close at N2.10 from N2.00, while United Capital Plc advanced by 4.94 percent to close at N4.04 from N0.85 percent per share.

Conversely, 23 losers emerged during the day with Courteville Business Solution Plc leading the pack with 6.90 percent to close at N0.27 from N0.29, followed by African Alliance Insurance Company Plc with five percent decrease to close at N0.38 from N0.40.

FTN Cocoa Processing Plc and Red Star Express Plc went down by 4.76 percent to close at N0.40 from N0.42 and N6.00 from N6.30 per share respectively.

Sovereign Trust Insurance Plc declined by 4.55 percent to close at N0.42 from N0.44 per share.

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