A three-day rally by the bulls saw the market capitalisation of the Nigerian Stock Exchange (NSE) hit its 2008 peak of N12.6 trillion yesterday just as year-to-date growth of the NSE All-Share Index stood at 40.5 per cent.

Dangote Cement Plc, which accounts for 28 per cent of the NSE capitalisation, was a major driver of the growth that pushed the market to its pre-meltdown level.

Since the resumption of trading this week, shares have remained on the upswing following renewed demand by institutional investors who have found blue chip stocks irresistible.

Trading had resumed on Monday with a marginal growth of 0.07 per cent, which improved to a growth of 1.7 per cent on Tuesday. The bulls consolidated their hold on the market Wednesday with the NSE All-Share Index jumping by 2.5 per cent to close at 39,453.23.

Market capitalisation gained N309 billion to close at N12.605 trillion, the peak of 2008 boom days. Although many blue chips have been witnessing growth in the past few days, an analysis of the growth indicated that Dangote Cement was the major driver.

For instance, yesterday when the market gained N309 billion to hit N12.6 trillion, Dangote Cement accounted for N233 billion or 75 per cent. The stock recorded the highest price gain of N13.74 to close at N210 per share.

Market operators said demand for the shares of companies in the Dangote Group increased since the announcement that Aliko Dangote remained the richest man in Africa and has climbed to the position of 25th richest man in the world.

Apart from Dangote Cement that led the price gainers yesterday, the remaining three firms in the Dangote Group, namely, Dangote Sugar Refinery, Dangote Flour Mills Plc and National Salt Company of Nigeria Plc, also appreciated in prices.

In all, 39 stocks appreciated in value compared with 24 that depreciated. Volume and value of trading also witnessed growth as investors traded 442.892 million shares valued at N5.575 billion exchanged in 6,595 deals, up from 347.134 million shares valued at N4.745 billion traded the previous day.

www.thisdaylive.com/articles/nse-market-capitalisation-hits-2008-peak/149560/

Nice improvement!! BTW!! This dangote man is just the main man in Nigeria!! Let us just rename nigeria after his name!! Lol

;

Oѕcar iѕ thе man.

This is great news and it shows dangote as a well modeled business man

Imagine if we have just 10 of that man in Nigeria, irrespective of his weaknesses or the bad side of him. We will just be riding high by now.

And not so long ago some losers in the HoR were harrassing Arunmah Oteh for the bad performance of the stock market.
Thankfully, Cool, Calm & Collected Joe at Aso Rock saw through their gimmicks and decided to keep her.

BTW< have the mofos released the 2013 budget for SEC
Bunch of low life RepresentaTHIEVES!!!

The Index has been all about DANGOTE CEMENT!

But then if you have bought into a good sound company.. you will also have made some money!

On this note I will like to sound some advise to those coming in now....avoid the Poorly managed insurance coys and penny stocks! They can kill you!!

Fly wey no dey hear word dey follow dead body enter grave!

The market is growing yet, my shares are dropping in value......God dey

This is awesome,i recalled when i was in lagos in 2008,my uncle who workd in the bank sector said at this rate,people woule make serious money,afterward came the crash and market cap was 12 trillion,now i refuse to look at any dumb world bank report,some of the world powers are still in debt,truly GOD loves this country

Remove dangote cement and you will get the true picture. Overall, I still think the market is faring well.

feelamong: The Index has been all about DANGOTE CEMENT!

But then if you have bought into a good sound company.. you will also have made some money!

On this note I will like to sound some advise to those coming in now....avoid the Poorly managed insurance coys and penny stocks! They can kill you!!

Fly wey no dey hear word dey follow dead body enter grave!

which of the insurance compay and penny stock are poorly manage

blink182: Remove dangote cement and you will get the true picture. Overall, I still think the market is faring well.

what about gtb, uba

Great news....congrats GEJ, Finance Min, SEC DG and her team. It cud only get better..

billante: A three-day rally by the bulls saw the market capitalisation of the Nigerian Stock Exchange (NSE) hit its 2008 peak of N12.6 trillion yesterday just as year-to-date growth of the NSE All-Share Index stood at 40.5 per cent.


For instance, yesterday when the market gained N309 billion to hit N12.6 trillion, Dangote Cement accounted for N233 billion or 75 per cent. The stock recorded the highest price gain of N13.74 to close at N210 per share.



www.thisdaylive.com/articles/nse-market-capitalisation-hits-2008-peak/149560/

this ppl don start dia magic again- anyways guess sum1 is shoppin for money to build a refinery

As a serious follower in dis sector

I don't predict any crash for now

But hold ur cash during end of year, I don't trust Europe

In 2008 the growth was in all sectors and uniform now remove dangote industries and you are back to 2010.

Don't be deceived by the NSE it is where they rob peter to pay paul.

Buyer beware

There is no appreciable growth in dangote flour, and now he has sold out- more losses- for me. Same for overall market. For instance, back in 08 other sectors like bankin, oil&gas and beverages recorded appreciable gains. It wasnt led by one company, not even one sector!
See, this market is not convincing me. Only thing i learnt from this news is that anything with the name of my good friend dangoti will sell- even sand or $#it.

Though we have being use to saying negative things about gej and his administration. I and my siblings have made over N4 million from the stock market. Gtb uba dangote livestock feeds first bank zenith bank unilever pz. How they did this magic i cannot know i cannot tell.

Redoil: Though we have being use to saying negative things about gej and his administration. I and my siblings have made over N4 million from the stock market. Gtb uba dangote livestock feeds first bank zenith bank unilever pz. How they did this magic i cannot know i cannot tell.

Well done! when you go bring una tithe come for our Ministry?

we suppose move go Permanent site before NSE index cross 40,000 o!!

HAH: In 2008 the growth was in all sectors and uniform now remove dangote industries and you are back to 2010.

Don't be deceived by the NSE it is where they rob peter to pay paul.

Buyer beware

You are really not following the market.
NSE has improved aside Dangote's industries.
eg Nestle, Cadbury, NB, GTB, Okomu, Livestock to name a few.

@Moderators and seun
this topic should have being kept secret it shouldn' have made front page. It is not for everybody to read. "Teach a man to fish he will compete with you for live"

feelamong:

Well done! when you go bring una tithe come for our Ministry?

we suppose move go Permanent site before NSE index cross 40,000 o!!

which tithe are you talking about i thaught that frosbel et al say tithes are illegal.

snthesis:

this ppl don start dia magic again- anyways guess sum1 is shoppin for money to build a refinery

"The stock recorded the highest price gain of N13.74 to close at N210 per share".

Opening price: N196.26
Closing price: N210
Change: N13.74

NO MAGIC OOO.

Omexonomy: this topic should have being kept secret it shouldn' have made front page. It is not for everybody to read. "Teach a man to fish he will compete with you for live"

I don't think you understand what Internet forums are about! Nairaland Forum is a place to share information, and not to hoard it!

This is the Nigeria of my dreams. Dangote is learning a lot from my man Carlos Slim. Proud Dangorian!

Seun:
I don't think you understand what Internet forums are about! Nairaland Forum is a place to share information, and not to hoard it!

Thank you jare, our only Oga on the top for NL.

How stable is the market now?

Nigerian stock market? All na voodoo! Invest at your own risk!

Seun:
I don't think you understand what Internet forums are about! Nairaland Forum is a place to share information, and not to hoard it!

Come on guys im sure he was just joking