Nigerian Equities Add N4.3 Trilllion As Index Closed 47 Percent

1 January 2014

The Nigerian equities market outperformed analysts' forecasts and returned 47 per cent yesterday as strong rally propelled equities to new high. Having appreciated by 34.5 per cent in 2012, market operators and analysts had projected a sustenance of the positive trend in 2013 but never expected a growth of above 40 per cent.

However, rally by highly capitalised equities made the market to close higher as Nigerian Stock Exchange (NSE) all-share index rose by 47 per cent from 28,078.80 to close at 41,329.19. On the other hand, market capitalisation added N4.25 trillion, rising from N8.97 trillion to N13.226 trillion.

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