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Nigerian stocks add N417 billion on investors’ rush for top telco, energy stocks

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Year to date, the index has yielded 6.35 per cent.

Nigerian stocks were up by 1.73 per cent or N417.2 billion on Wednesday in extension of the rebound that occurred at the preceding session as theThe African unit of New Delhi-basedis now Nigeria’s biggest wireless operator by market value and the second largest firm on the Nigerian Exchange after toppling rival MTN Nigeria.

The all-share index leapt by 774.25 basis points to 45,430.14, while market capitalisation closed higher at N24.5 trillion.Airtel Africa led gainers, appreciating by 10 per cent to close at N1,155.50. Cornerstone went up by 6 per cent to N0.53. Courteville rose to N0.40, notching up 5.26 per cent.

 

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