Market Index Sustains Rising Profile, Up By 1.03 Per Cent

Price gains have continued to outweigh losses on the equities sector of the Nigerian Stock Exchange (NSE), as more blue-chip stocks appreciated at price, causing the All-Share Index (ASI) to rise further by 1.03 per cent. Specifically, at the close of transactions yesterday, ASI increased by 249.36 absolute points, a gain of 1.03 per cent to close at 24,452.23 points. Similarly, the market capitalisation rose by N130billion to close at N12.743trillion. 

The uptrend was impacted by gains recorded in large and medium value stocks, amongst which were; Dangote Cement, Zenith Bank, BUA Cement, Guaranty Trust Bank, and Stanbic IBTC Holdings. 

Analysts at APT Securities and Funds Limited, said: “There is no doubt the flooding of a strong buying signal in the market this week on the back of improved Investors’ sentiment. However, we might see someday trading activities as the week unwinds.”