A total 22 stocks appreciated to lift the Nigerian Stock Exchange All-Share Index by 0.31 per cent to close at 29,710.56 as the market opened for the week on a positive note. Although Law Union & Rock Insurance Plc led the price gainers’ table, appreciation in the shares of MTN Nigeria Communications Plc, Guaranty Trust Bank Plc and Zenith Bank Plc boosted the performance for the day.
The AGF had in September 2018, accused MTN Nigeria of two separate revenue indebtedness to the tune of N242,244,452,215.97 and $1,283,610,357.86, an allegation the firm vehemently refuted and subsequently went to court to challenge. But the minister had handed off the matter after holding on to it for 17 months.
The stock appreciated from N126.60 to N128.30 per share yesterday. However, Law Union & Rock posted the highest rise of 10 per cent, trailed by Total Nigeria Plc with 9.3 per cent, while Cadbury Nigeria Plc chalked up 8.5 per cent. Caverton Offshore Support Group Plc garnered 6.8 per cent, just as Jaiz Bank Plc, WAPIC Insurance Plc and Union Diagnostic and Clinical Services Plc gained 6.1 per cent, 5.7 per cent and 5.0 per cent in that order.
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