DANGCEM & WAPCO push NSE up 2.21%   

April 24 (Lagos) - Shares of Dangote Cement Plc ( DANGCEM ) and Lafarge Africa Plc ( WAPCO ) surged by 3.77% and 10.24% respectively to push the All Stock Index of the NSE higher by 2.21% today in Lagos. 

Banking stocks were strong today led by impressive results by STANBIC which reported profit of more than N 18 billion for the first quarter. The stock closed higher by almost 5% today. Other banking stocks that led today were DIAMONDBNK up 5.56%, UBA up 4.25%, ZENITHBANK up 2.07%, GUARANTY up 3.59%, ETI up 4.93% and UBN up 4.98% today at the exchange. 

Today's rally is based in gains in DANGCEM and hopefully it can sustain this gain tomorrow otherwise we could be in for a reversal.


The other heavyweight stocks NESTLE declined by almost 5% today along with salt manufacturer NASCON while blue chips UNILEVER , FLOURMILL ,  GLAXOSMITH , TOTAL and MOBIL remained unchanged. 

reporting for easykobo.com on Monday, April 24 2017 from Lagos, Nigeria

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