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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