Shares of DCP closed at N411.90 per share, setting a new record and up 10 percent

Please see below the capital market summary for today:

• Shares of DCP continued an upward trajectory, rallying 10% to ₦411.90 per share.

• This is the highest price on record, up 10% or ₦38 when compared with consensus estimates at ₦374.44.

• YTD DCPs share price is up 28.76%.

• Analysts attribute the rally in DCP shares to the start of production at the Dangote Refinery, perceived by investors to have numerous benefits for the entire Group.

• The All-Share Index (ASI) of the Nigerian equities market gained 3.6% to 87,714.0 points. As a result, YTD performance settled at 15.43%, with market capitalization at ₦47.95 trillion.

• Meanwhile, the yield on DCP’s longest-maturity instrument settled at 14.99%.

• Dangote Sugar and NASCON closed the market at ₦81.4 and ₦71.5, respectively, both up 10% as well.

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Source: Legit.ng