Investors in the Nigerian equity market added N1.1 trillion in three-day trading despite the hostile Dangote Petroleum Refinery’s initial public offering.
The market value increased from N157.578 trillion as of last Friday to N158.714 trillion today, resulting in a total increase of N1.127 trillion.
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The All Share Index closed at 244,791.79 points, gaining 1,739.05 points or 0.7 percent.
The News Chronicle reports that the rise was led by the shares of NGX Group, MTN Nigeria, Nigerian Breweries, Transcorp, UPDC REIT, Champion Breweries, Livestock Feeds and UBA.
Sovereign Trust Insurance topped the gainers’ list with a jump of 9.69 percent, followed by Champion Breweries and Livestock Feeds which gained 9.5 percent and 9.42 percent respectively. Shares of Nigerian Breweries rose by 5.20 percent while those of VFD Group closed the day’s trading with a gain of 7.98 percent.
However, Industrial and Medical Gases recorded the biggest decline, falling 9.93%, while John Holt and Livingtrust Mortgage Bank dropped 9.88% and 9.84% respectively.
Sectorally, Consumer Goods, Banking and Insurance indices advanced, while Oil and Gas and Growth indices declined.
