The Nigerian stock market yesterday remained unshaken at the uptrend with N252 billion or 1.12 percentage gain as investors staked more money in Airtel Africa and 23 others.
In summary, the All-Share Index (ASI) increased by 483.68 absolute points, representing a rise of 1.12 per cent to close at 43,730.55 points. Similarly, the overall market capitalisation value rose by N252 billion to close at N22.821 trillion.
The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Airtel Africa, MTN Nigeria Communications (MTNN), Ardova, Lafarge Africa and UAC of Nigeria (UACN).
Analysts at Afrinvest Limited stated that “In the subsequent trading session, we expect the positive sentiment to linger due to sustained interest in the ICT space.”
Similarly, the market breadth closed positive, recording 24 gainers as against 16 losers. Associated Bus Company and FTN Cocoa processors recorded the highest price gain of 10 per cent each to close at 33 kobo and 44 kobo, respectively, while Ardova Plc followed with a gain of 7.38 per cent to close at N14.55, per share.
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