Nigerian stocks advanced by 1.58 per cent or N317.4 billion on Tuesday in one of the biggest daily gains this year, regaining the ground lost at the Monday session as investors’ exuberance for telco giants Airtel Africa and MTNN principally lifted trade.
Tuesday’s trade also saw a big leap in liquidity, which saw trade volume outstripping that of the previous session’s by 143 per cent. Also helping gains, the oil and gas index progressed the most of the five sector indexes tracked by the bourse, climbing 0.11 per cent. Market breadth, which measures investors’ sentiment, was positive as 21 gainers emerged compared to 20 losers.
The all-share index rose 609.36 basis points to 39,176.62, while market capitalisation closed higher at N20.4 trillion. The index has been down 2.72 per cent since the start of the year.Airtel led gainers, appreciating by 10 per cent to close at N715. Unity Bank rose to N0.60, notching up 7.14 per cent in the process. Veritas Kapital added 4.35 per cent to end today’s trade at N0.24. Courteville went up by 4.17 per cent to N0.25. Caverton climbed 3.89 per cent to N1.87.
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