Capital Market posts biggest daily gain in 6 months
Nigerian stocks posted their biggest daily rise for six months on Tuesday, rising 2.23 percent to 25,129 points. The All Share Index which measures the general performance of stock exchange rose 2.23% to close at 25,129.27 at the end of trading.
Other important market indicators including the number of deals sealed, volume of shares traded as well as market capitalisation rose.
Nigeria’s biggest listed company, Dangote Cement , majority-owned by Africa’s richest man Aliko Dangote and accounting for a third of total market capitalisation, rose N4.92%.
Dangote Cement, Nigeria Breweries Plc, Guinness Plc, Total, GTB were the five top gaining stocks.
Dangote Cement stock price closed at N156.61 gaining N7.35, Nigeria Breweries Plc, gained N3.1, Guinness gained N3.05, Total gained N1 while GTB gained N0.95.
Brokers say better than expected corporate results especially from the banking sector after Zenith Bank and Access Bank declared dividends amidst a weak economic outlook bouyed stocks, the Reuters News Agency reports.
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