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Published 11 March 2021
The nation’s bourse on Wednesday overcame its negative posture growing by N128bn following bargain buying in Dangote Cement and Nestle as well as news of approval of demutualisation, the News Agency of Nigeria reported.
Specifically, the market capitalisation rose by N128bn or 0.63 per cent to close at N20.37tn against N20.24tn recorded on Tuesday.
Similarly, the All-Share Index appreciated by 244.40 or 0.63 per cent to close at 38,931.25 from 38,686.85 achieved on Tuesday.
Consequently, the month-to-date and year-to-date losses moderated to 2.2 per cent and 3.3 per cent respectively.
The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are Nestle, Dangote Cement, Nigerian Breweries, May & Baker and Africa Prudential.