Nigerian stock market extends rally as investors record N884bn gain

The Nigerian banal marketplace sustained its bullish tally connected Tuesday, with investors signaling a summation of N884 billion.

Market capitalization roseate by 0.67 percent, climbing from N131.608 trillion to N132.492 trillion.

Similarly, the All-Share Index precocious by 1,372.52 points, oregon 0.67 percent, to adjacent astatine 205,831.38, up from 204,458.86 recorded successful the erstwhile session.

As a result, the year-to-date instrumentality accrued to 32.27 percent, portion marketplace breadth closed affirmative with 42 gainers against 21 losers.

On the gainers’ chart, Stanbic IBTC and Ecobank Transnational Corporation led with a 10 percent appreciation each, closing astatine N161.70 and N50.60 per share, respectively. NGX Group followed with a 9.97 per cent summation to settee astatine N168.75, portion Cornerstone Insurance roseate by 9.94 per cent to N5.64. Also, Mecure Industries precocious by 9.92 percent to adjacent astatine N67.60 per share.

On the flip side, Fortis Global Insurance topped the losers’ table, shedding 8.20 percent to adjacent astatine N1.12. McNichols Plc declined by 8.17 per cent to N6.52, portion Academy Press dropped by 6.96 per cent to N7.35 per share. International Energy Insurance mislaid 6.88 per cent to adjacent astatine N3.25, and Guinea Insurance fell by 5.83 per cent to N1.13 per share.

Analysis of trading enactment showed a 21 per cent increase...