Renewed investors’ appetite in the shares of MTN Nigeria (MTNN) and 20 stocks aided the Nigerian Exchange Limited (NGX) to stage a rebound in the last trading session of the month of November as capitalisation increased by N183 billion.
Yesterday, the All Share Index (ASI) rose by 337.07 absolute points, representing a gain of 0.71 per cent to close at 47,660.04 points. Accordingly, investors gained N183 billion in value as market capitalisation went up to N25.959 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria Communications (MTNN), United Capital, UAC of Nigeria (UACN), PZ Cussons Nigeria and Nigerian Exchange Group (NGXGroup).
Analysts at Vetiva Dealings and Brokerage said: “After five consecutive m/m declines in the All-Share index, the market closed the month of November with an 8.72% return, despite the rocky start to the month. We foresee tepid, bearish sessions going into the final lap of the…
Source: Guardian Newspaper
