Trading at the stock market resumed yesterday on a bullish note as the Nigerian Stock Exchange All-Share Index gained 2.32 per cent to close higher at 21,879.95, while market capitalisation added N257.5 billion to be at N11.4 trillion.
Consequently, about 29 stocks appreciated yesterday compared to 12 stocks that depreciated. Gains posted by Dangote Cement Plc, MTN Nigerian Communications Plc and Guaranty Trust Bank Plc contributed to the positive close yesterday. Dangote Sugar Refinery Plc, Honyewell Flour Mills Plc and Jaiz Bank Plc went up by 9.3 per cent, 8.8 per cent and 8.5 per cent in that order. GTBank Plc, Unity Bank Plc and Caverton Offshore Group Services Plc chalked up 8.4 per cent, 7.1 per cent, 6.3 per cent respectively.
The bond has already elicited excitement among market operators, who said it would help broaden local investors’ investment options in the fixed income market. The stakeholders believe that the N100 billion bond will further reinforce the potential depth of the Nigerian debt capital market and the ability of local corporates to fund long term projects from the domestic debt market.