The bullish momentum in the Nigerian equities market yesterday continued as renewed interest in Airtel Africa and 15 others drove the benchmark index by N202 billion or 0.81 per cent higher.
As a result, the All Share Index (ASI) rose by 372.57 absolute points, representing a gain of 0.81 per cent to close at 46,604.94 points. Accordingly, investors gained N202 billion in value as market capitalisation went up to N25.384 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Airtel Africa, BUA Foods, Nigeria Breweries, Ecobank Transnational Incorporated (ETI) and Eterna.
However, market breadth closed negative as 16 stocks posted gains while 23 stocks posted declines. AXA Mansard Insurance recorded the highest price gain of 8.57 per cent to close at N1.90, per share. Nigeria Breweries followed with a gain 6.79 per cent to close at N48.00, while ETI went up by 6.50 per cent to close at N10.65, per share.
Airtel Africa went…
Source: Leadership Newspaper