Stock market extends gain with 0.11 index rise
Following sustained bargain–hunting in the shares of most blue–chip
stocks, the Nigerian equity market extended a bullish run to three
consecutive sessions, yesterday, as the All–Share Index (ASI) increased
further by 0.11 per cent.
At the close of transactions Wednesday, the ASI expanded by 45.10
absolute points, or 0.11 per cent increase to close at 40,341.05 points.
Similarly, the overall market capitalisation gained N24 billion to
close at N21.094 trillion.
The market gain was piloted by price appreciation in medium and large
value stocks, including; Mobil Nigeria, Flour Mills of Nigeria, BOC
Gases, Seplat Petroleum Development Company, and Ardova Plc.
Analysts at Afrinvest Limited, said: “We believe the positive sentiment would be sustained till the close of the week.”
Source:Guardian, January 15, 2021