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Stock Market Index Crosses 70,000 points To Commence November Trading

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The Nigerian Exchange Limited’s All-Share Index surged to an all-time high and shattered the 70,000-point barrier.

The All Share Index rose by 1,345.57 points, representing a gain of 1.94 per cent to close at 70,581.76 points. Also, market capitalisation appreciated by N739 billion to close at N38.778 trillion.

The market has been on an upward trajectory since the entry of the new administration led by President Bola Tinubu, due to proactiveness in implementing necessary reforms such as the removal of fuel subsidy and the liberalisation of the foreign exchange market. NEM Insurance rose by 9.90 per cent to close at N5.55, while FBNH appreciated by 9.78 per cent to close at N19.65, per share. On the other hand, Caverton Offshore Support Group led the losers’ chart by 7.74 per cent to close at N1.43, per share. Champion Breweries followed with a decline of 6.85 per cent to close at N3.40, while C & I Leasing lost 6.41 per cent to close at N3.36, per share.UPDC Real Estate Investment Trust depreciated by 2.70 per cent to close at N3.

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