Stocks favour investors with N140bn yield

The domestic equities market of the Nigerian Stock Exchange (NSE) continued its bullish run as market capitalisation increased by ₦140 billion to ₦18.6 trillion.

The All Share Index (ASI) gained 76 basis points (bps+ to close at 35,493.15 points while the returns improved to 32.2 per cent.

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Market performance was buoyed by buying interest in bellwethers Nestle (+7.5%), Zenith (+2.6%) and Guaranty (+1.2%).

Activity level was mixed as volume traded surged 146.2% to 650.5 million units while value traded fell 22.4% to N2.3bn. The most traded stocks by volume were JAIZ Bank (415.0m units), Mansard (22.3m units) and Zenith (19.3m units), while Zenith (N472.7m), Dangote Sugar (N257.6m) and Nestle (N231.0m) led by value.