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.

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).