Monday, May 17African Business News
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Bargain hunting lifts NSE’s index by 0.06%

Bargain hunting lifts NSE’s index by 0.06%

Capital Market
Following bargain-hunting in some blue-chips, especially Airtel Africa and Sunu Assurance, the domestic equities market closed positive for the first time in the week, as the All-Share Index rose 0.06 per cent. At the close of transactions yesterday at the Nigerian Stock Exchange (NSE), the ASI increased by 15.67 absolute points or 0.06 per cent growth to close at 24,130.26 points. Similarly, the overall market capitalisation gained N8 billion, an increase of 0.07 per cent to close at N12.588 trillion as a result of the listing of Tranzact International Plc Rights Issue of 4.67 billion Ordinary Shares of 50 Kobo each at N1.50 per share on the basis of 10 new ordinary shares for every nine ordinary shares. The upturn was impacted by gains recorded in large and medium value stocks, ...