The Nigerian stock market recorded notable gains on Monday, with Dangote Cement Plc’s share price jumping 8.81 percent, helping lift the All-Share Index (ASI) and overall market value.
Nairametrics Trading on the Nigerian Exchange (NGX) saw the ASI close at 173,946.22 points, a 1.29 percent increase from the previous session, driven by bullish sentiment among large-cap stocks.
The market’s capitalisation rose to approximately ₦111.6 trillion, underscoring renewed investor confidence in key equities despite a slight drop in trading activity compared with the prior session.
Dangote Cement’s strong performance was pivotal in this uptick, reflecting sustained interest in heavyweight stocks that significantly influence market benchmarks.
Other large-caps also contributed to the momentum, although some counters recorded varying gains and losses.
Overall market activity showed a decline in trading volume with about 775 million shares exchanged across nearly 66 000 deals but the positive price action in core blue-chip names kept the market on an upward trajectory.
The surge in Dangote Cement shares and the broader market rally come amid ongoing optimism about corporate earnings and valuation prospects in Nigeria’s equities space, particularly among investors tracking large-cap performers.
Image Credit:Nairametrics
Source: Nairametrics
