made a fairly big advance on Thursday, on course for a positive return this week, as the main equity index added N532.2 billion or 2 per cent as sector leaders Airtel Africa and Nestle drove gain.
Huge buy interests in the two helped the market record its biggest appreciation since the turn of the year, a rare milestone at a point when a great deal of investment money is shifting to the fixed income space, where yield has improved reasonably for a while. A higher trade volume partly spurred the surge, with the size of trade expanding by 35 per cent when set beside that of the previous session.
Market breadth closed positive as 18 advancers were reported compared to 11 losers. The 75 other stocks that traded on Thursday closed flat.The all-share index added 986.6 basis points to close at 49,661.9, while market capitalisation increased to N26.8 trillion.CWG led gainers, appreciating by 10 per cent to close at N0.99. Learn Africa rose to N2.47, notching up 9.78 per cent in the process. Caverton added 9.52 per cent to end trade at N1.15. Multiverse went up by 9.52 per cent to N2.30.