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NGX EarnsN247bn on buying interest in Airtel Africa

NGX Earns N247bn On Buying Interest In Airtel Africa

The Nigerian Exchange (NGX) has gained N247 billion as a result of buying internet in Airtel Africa.

CHAMPION NEWS reports that the market capitalisation which opened at N20.969 trillion increased to N247 billion and close at N21.216 trillion.

According to a research done by Cordros, the growth to foreign investors’ interest in Airtel Africa following its share buy-back plan buoyed the impressive performance.

All-Share Index inched higher by 473.61 points or 1.18 per cent to close at 40,716.66 from 40,243.05which was recorded on Monday. Information Guide Nigeria

Furthermore, the month-to-date and year-to-date returns increased to 1.2 per cent and 1.1 per cent, and the upturn was impacted by gains from medium and large capitalised stocks.

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The stocks include Airtel Africa, Zenith Bank, Julius Berger, FBN Holdings (FBNH), and Guaranty Trust Holding Company (GTCO).

As reported by CHAMPION NEWS, an analyst at Afrinvest Limited said: “In the next trading session, we anticipate a sustained positive performance on the back of bargain hunting activities.”

Consequently, the market breadth closed positive with 32 gainers as against 18 losers. JAMB Result

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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