Thursday, February 25African Business News
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Tag: Capital Stocks

Renewed bargain-hunting pushes index by 0.31 per cent

Renewed bargain-hunting pushes index by 0.31 per cent

Business
The Nigerian equities market rebounded yesterday, occasioned by bargain-hunting in most blue-chip stocks, causing the All-Share Index (ASI), to advance by 0.31 per cent. Precisely, the ASI rose by 80.55 absolute points, representing a growth of 0.31 per cent to close at 25,654.90 points. Similarly, the overall market capitalisation gained N43 billion to close at N13.408 trillion. The upturn was impacted by gains recorded in large and medium capital stocks, including MTNN, Red Star Express, FBN Holdings (FBNH), Dangote Sugar Refinery, and Trans-Nationwide Express. Analysts at Afrinvest Limited expect bargain-hunting to persist in the market. Market sentiment, as measured by the market breadth, was negative, as nine stocks gained relative to 17 losers. Red Star Express recorded the...