Oando, Dangote Sugar lead 1.22% rally, as NGX crosses 120,000 mark

Investor demand for stocks such as Oando, Dangote Sugar Refinery, and CWG drove Nigeria’s equities market higher on Wednesday, with the All-Share Index (ASI) gaining 1.22 percent at the close of trading.

The market’s benchmark performance indicator crossed the 120,000-point threshold, reflecting sustained positive sentiment and continued bullish momentum.

As of Wednesday’s close, the year-to-date (YtD) return climbed to 17.81 percent. The market has appreciated by 8.52 percent this month, while the week-to-date (WtD) return stood at 2.64 percent.

The Nigerian Exchange Limited (NGX) reported that the ASI rose from the previous day’s 119,790.82 points to 121,257.69 points. Market capitalisation increased accordingly from N75.576 trillion to N76.761 trillion.

Among the session’s top performers, Oando gained N6.25 or 10 percent, rising from N62.50 to N68.75. Dangote Sugar Refinery also advanced 10 percent, moving from N44 to N48.40 with a gain of N4.40.

Champion Breweries rose from N9.92 to N10.91, adding 99 kobo or 9.98 percent. Similarly, C&I Leasing climbed from N4.71 to N5.18, up by 47 kobo or 9.98 percent, while CWG increased from N10.55 to N11.60, representing a gain of N1.05 or 9.95 percent.

Other actively traded stocks included Fidelity Bank, Caverton, Japaul Gold, Zenith Bank and Access Holdings.

In total, 861,670,987 shares valued at N26.176 billion were exchanged across 22,896 deals.