Dangote Sugar Refinery Leads Top Performers as Nigerian Stock Market Gains by 1.47%
The NGX closed at 67,527.19 points on Monday, up by 1.47% from 66,548.99 points recorded on the previous day’s business.
This is the highest level of gains since June 13, 2023, when the NGX surged to a 15-year high after the suspension of the Central Bank of Nigeria (CBN) governor, Godwin Emefiele.
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The market was driven by gains in the financial, consumer goods, and industrial goods sectors, which rose by 2.18%, 1.71%, and 1.54% respectively.
Some of the top gainers were Dangote Sugar Refinery Plc (+10.00%), Lasaco Assurance Plc (+10.00%), Tantalizers Plc (+10.00%), Nascon Allied Industries Plc (+9.99%), and Nigerian Aviation Handling Company Plc (+9.96%).
According to experts, the market performance on Monday reflected the optimism of investors on the Nigerian economy, which is expected to grow by 4.2%, according to the International Monetary Fund (IMF).