The Nigerian Stock Exchange All-Share Index appreciated by 0.3 per cent to close at 24,097.48 yesterday, following the return of the bulls to the stock market.
Although a total of 17 stocks appreciated as against 18 that depreciated, gains recorded by Airtel Africa Plc, BUA Cement Plc and Zenith Bank Plc propelled the growth. The Chairman of BUA, Abdul Samad Rabiu, had recently disclosed preliminary findings show that the two local governments are reputed to have good quality of limestone deposits, stating that BUA Cement was ready to begin the investment in the state. He added that the BUA will use new technologies to supply power to the proposed cement plant and communities of Guyuk and Lamurde in addition to providing three thousand direct and five thousand indirect jobs.
Mutual Benefits Assurance Plc garnered 4.7 per cent, just as Sterling Bank Plc and FCMB Group Plc chalked up 4.2 per cent and 4.0 per cent respectively.
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