Heavyweight Dangote Cement lifted the Nigerian Stock Exchange into a positive territory as the bulls dominated the first day of trading this week.
Stock value appreciated 2.02% with the Benchmark index closing at 23,977.10bps.
Sectorial indices monitored by the exchange showed mixed performance, with the banking sector and Dangcem, making a big difference.Dangote Cement appreciated 7.8 per cent..Dangote Cement shares rose after it said it plans to build new cement plants in Nigeria and increase local production capacity to 38.25 metric tonnes per year from 29.25 metric tonnes.
The new plants will help it cut the cost of production and lower product prices in the market, it said. Dangote Cement, which accounts for a third of the market’s capitalisation, traded at 134.98 naira ($0.6783) at the close.