Telcos stocks push market to 1-year high


Investors’ significant buying activities in bellwether stocks of the telecommunication company listed on the Nigerian Exchange Limited (NGX) drove the highest single-day gain since November 12, 2020.

Specifically, the All-Share Index (ASI) of the local bourse appreciated by 2.9 per cent to 43,246.87 basis points, driven by gains from MTN Nigeria and Airtel Africa stocks as the appreciated by 9.2 per cent and 10.0 per cent respectively.

Accordingly, Month-to-Date and Year-to-Date gains increased to +2.9 per cent and +7.4 per cent respectively.

Despite the strong bullish performance witnessed in the equities market, the number of losers (26) still surpassed that of the gainers (18).

On the…

Source: Nigerian Tribune

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