UPDATE : Nigerian stocks climb by N237 billion as big-cap stocks strengthen gains

Nigerian stocks climb by N237 billion as big-cap stocks strengthen gains

The all-share index jumped 454.40 points to 41,704.11, while market capitalisation rose to N21.8 trillion at the end of trade.

ByRonald Adamolekun

 

 October 22, 2021

 

2 min read

Nigerian stocks advanced by 1.1 per cent or N237.1 billion on Thursday as investors continued to take a risk-off stance in equities, helping to build a positive atmosphere around the market as the earnings season shapes up gradually.

Drivers of Thursday’s gains were broad across sectors as disparate as financial service, telecoms, industrial goods and consumer goods, with NGX Group, Airtel Africa, MTNN and Nigerian Breweries leading the charge.

Market breadth, which gauges the level of investor sentiment towards trade, was positive as 23 gainers were recorded compared to 19 laggards.