Nigerian stocks add N331 billion as investors chase big-cap equities

saw an appreciation of N330.5 billion or 1.1 per cent on Thursday, advancing for the second straight day, as investors bucked the recent interest rate adjustment.

As on Wednesday when Airtel Africa hit over N6 trillion valuation days after regaining the top spot as Nigeria’s biggest company by market valuation, gain hinged on the telecom sector via the Performance of MTN Nigeria, drawing support from GTCO and FBN Holdings.revenue jumped Analysts at investment firm United Capital said they “anticipate continued market interest in the domestic equities space despite ongoing profit-taking” in their outlook note to investors seen by PREMIUM TIMES.

The all-share index was up by 559.9 basis points at 53,151.3. Similarly, market capitalisation advanced to N28.7 trillionIndustrial and Medical Gas grew by 10 per cent to N11. Champion Breweries gained 9.94 per cent to close at N3.76. Linkage Assurance rose by 9.09 per cent to N0.60.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nigerian stocks in biggest year-to-date fall after interest rate increaseThe all-share index shrank by 961.9 points to 51,949.6, while market capitalisation closed lower at N28 trillion. The same script for all former colonies ?
Source: PremiumTimesng - 🏆 3. / 78 Read more »

WHA75: Investment in PHCs can guarantee 6.7 years increase in life expectancy by 2030 - WHO DGMr Ghebreyesus said investing in primary health care will help to promote health, prevent diseases, advance equity and health security.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Nigerian Company, Errand360, Reacts As Deliveryman Accused Of Stealing Bicycle Dies In Police Custody | Sahara ReportersChidera, according to reports, died in prison after the start-up ordered his arrest for allegedly stealing a bicycle. So sad. The trauma the Family would be in now errand360HQ you said you tried helping out with his bail on March 1st, 2022 but because you didnt have some documents you couldn't. Is it that when you went back to court by March 30th & said you'd drop the case if he gets a replacement, you still didnt have the documents? 🤣🤣🤣🤣
Source: SaharaReporters - 🏆 9. / 63 Read more »