The Nigerian equities market started the week on a bullish note, with gains in Nestle Nigeria and 19 other stocks driving the overall capitalization up by N160 billion. The All-Share Index (ASI) gained 246.50 points, or 0.10 per cent, to close at 243,299.24 points, while market capitalisation rose to N157.747 trillion. The upturn was influenced by gains in medium and large capitalised stocks, including Nestle Nigeria, Nigerian Exchange Group, First Holdco, Custodian Investment and Dangote Sugar Refinery. Cowry Assets Management Limited noted that the market is expected to tread cautiously as investors maintain mixed interests across sector indices following the commencement of Dangote Refinery IPO, with investor sentiment negative as 28 losers outpaced 19 gainers.
Related Articles
Don't miss out on breaking stories and in-depth articles.