Dangote companies post N59 billion equity gain as NGX continues bullish run
Two members of Dangote Group, Dangote Sugar Refinery and National Salt Company posted cumulative equity gains of N59.33 billion, as the Nigerian Exchange continued its bullish run, gaining 0.44% during the day. The All-Share Index of the NGX closed at 98,818.04, marking a 435.00-point increase from yesterday’s 98,383.04 points. The market capitalization also appreciated by N246 billion as it hit N55.900 trillion, up from Tuesday’s N55.654 trillion. There was a slight decline in market activities on May 29, 2024, as the number of deals hit 7,781 from yesterday’s 7,990. In terms of turnover volume, there was a slight decline to 519.948 million shares, from yesterday’s 559.609 million shares. Since the ascension of President Tinubu into office on May 29, 2023, the NGX has gained 77%, as its ASI moved from 55,738.35 points as of May 30, 2023, to close at 98,818.04 points on May 29, 2024. Also, this week, the NGX has been on its best run since March 2024, as the market has gained 1.24%, after closing with 0.11% losses in the two previous weeks.https://nairametrics.com/2024/05/29/dangote-companies-post-n59-billion-equity-gain-as-ngx-continues-bullish-run/