Stocks in Nigeria recovered from the early losses in the week yesterday, with a gain of N565 billion due to purchase interest in Dangote Cement Plc and others.
As a result, the All-Share Index gained 1,037.43 points, or 1.62%, to close at 65,204.82 points. At the same time, the total market capitalization increased by N565 billion to N35.484 trillion.
Rising earnings from major and medium-capitalized firms like Dangote Cement, FBN Holdings (FBNH), MTN Nigeria Communications (MTNN), Guaranty Trust Holding Company (GTCO), and Chellaram impacted the market's positive performance.
Investor sentiment, as assessed by market breadth, ended positive, with 23 equities gaining while 19 declined. Chellaram had the largest price rise of 10%, closing at N4.40 per share.
Top Gainers: SCOA Nigeria gained 9.35% to close at N1.17, while Dangote Cement gained 9.34% to close at N349.90 a share.
Read more: https://www.investingport.com/nigerian-stocks-gain-n565bn/