Nigeria: NSE All-Share Index Rises 2.1% As Equities Market Records Further Gains

7 January 2020

The stock market continued with its positive performance yesterday, recording another appreciation. Having gained about 2.1 per cent last week, the market opened this week with a growth of 1.38 per cent as the Nigerian Stock Exchange (NSE) All-Share Index rose to 27,339.68, while market capitalisation added N179.1 billion to close at N13.081 trillion.

The market was highly bullish as bargain hunters took advantage of the low prices for early entry into the market. Consequently, 30 stocks appreciated compared with 13 that depreciated. Gains recorded by bellwethers such as Dangote Cement Plc, Guaranty Trust Bank Plc and Zenith Bank Plc boosted the performance. However, the price gainers' chart was led by FCMB Group Plc with 10 per cent, trailed by Cornerstone Insurance Plc with 9.4 per cent, just as Unity Bank Plc chalked up 8.9 per cent.

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