The bull run at the stock market was sustained yesterday lifting the Nigerian Stock Exchange All-Share Index further by 0.90 per cent to close at 27,586.93. Similarly, market capitalisation added N117 billion to close higher at N13.4 trillion. The sustained positive performance followed investors’ interest in Dangote Cement Plc and banking stocks, especially, Zenith Bank Plc, UBA Plc and Access Bank Plc. Consequently, the year –to-date gains have hit 2.7 per cent.
Cutix Plc and Wema Bank Plc went up by 7.5 per cent and 5.4 per cent in that order, just as Zenith Bank Plc and United Bank for Africa Plc garnered 5.0 per cent and 4.9 per cent respectively. Following the gains by the banking stocks, the NSE Banking Index recorded the highest appreciation of 1.85 per cent. The NSE Industrial Goods Index rose by 1.7 per cent. Similarly, the NSE Insurance Index rose by 1.2 per cent, just as the NSE Consumer Goods Index gained 0.47 per cent. Conversely, the NSE Oil & Gas Index shed 0.42 per cent.
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2020 Economic Outlook Report: United Capital projects 5.3% for equities market – Daily TrustUnited Capital Plc has released the 2020 Nigeria Economic Outlook Report and projects that equities market would likely return at +5.3 per cent, driven by local demand for high-quality dividend-paying stocks and increased system liquidity. The report, tagged: “A Different Playing Field’’, carefully considers events in the international economic environment.ADVERTISEMENT This includes the effects of …
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