The equity sector of the Nigerian Stock Exchange (NSE) regained positive sentiment in today’s transactions as investors wealth increased by N19 billion.
The exchange earlier in the day, announced a revised bidding offer of N120 billion for the 5 billion issued shares of Dangote flour Mill Plc from Olam International Limited through its subsidiary, Crown Flour Mill Limited.
Though this revised bidding is N10 billion lesser than earlier offered on April 23, 2019 (N130bn), market players still responded postively to this offer as the new consideration price per unit of Dangote flour mills (N24), outweigh today’s opening price of N18.50.
The All Share Index (ASI) increased by 38.92 absolute points, representing a growth of 0.14% to close at 27,669.38 points. Similarly, the Market Capitalization rose by N18.97 billion, representing a gain of 0.14% and closed at N13.48 trillion.
DANGFLOUR & CORNERST emerged the top gainers while ETI emerged as top loser
The upturn was impacted by gains recorded in large and medium capitalized stocks, amongst which are; DANGFLOUR (+10.00%), BOCGAS (+9.86%), CCNN (+5.26%), FLOURMILL (+2.30%), UBA (+1.69%), OANDO (+1.28%), and MTNN (+0.98%). (GTI)
