After days of a persistent bearish trend, transactions on the nation’s bourse rebounded on Thursday by 0.78 per cent following buying interest in Dangote Cement
NSE trading floor. PHOTO: FEMI ADEBESIN-KUTI
Although price gains outweighed losses, transactions on the equity sector of the Nigerian Stock Exchange (NSE) was upbeat yesterday, occasioned by bargain-hunting in some high capital stocks, as market capitalisation appreciated by N45 billion.
The All-Share Index (ASI) grew by 86.97 absolute points or 0.21 per cent increase to close at 41,088.96 points. Also, the overall market capitalisation value gained N45 billion to close at N21.494 trillion.
The market gain was driven by price appreciation in large and medium value stocks including Airtel Africa, Dangote Cement, MRS Oil Nigeria, Julius Berger, and Lafarge Africa. x
Analysts at Vetiva Dealing & Brokerage said: “The Nigerian equity market returned to the positive territory due largely to the upward movement in major large cap stocks such as DANGCEM and AIRTELAFRI.
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Lagos, Jan. 25, 2021 Activities on the nation’s bourse resumed the week on Monday on a positive note following investors’ interests in Dangote Cement and Airtel Africa.
Specifically, the All-Share Index inched higher by 86.97 points or 0.21 per cent to close at 41,088.96 from 41,001.99 on Friday.
Consequently, month-to-date and year-to-date returns increased to 2.0 per cent.
Also, the market capitalisation, which opened at N21.448 trillion improved by N46 billion or 0.24 per cent to close at N21.494 trillion.
The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Airtel Africa, Dangote Cement, MRS Oil, Julius Berger and Lafarge Africa.