Nigeria’s equity market opens for trading higher at 2.17%
By Samuel Bankole
Nigeria’s equity market reopened for business for the new year sustaining its positive trajectory with the index up by 2.17 percent at the close of trading on Monday.
The All Share Index rose to 41,147.39 points compared with 40,270.72 points it closed on the last trading day of 2020.
The rise in ASI was driven by gains in the shares of Bua Cement, which rose 9.89 percent to N85, Lafarge Africa which climbed 9.03 percent to closed at N22.95 and Transcorp with 10 percent rise to N0.99 per share.
Dangote Cement traded flat at N244.90 per share as the most capitalised stock maintained the position it closed last year, while FBNH, the parent company of First Bank rose 9.79 percent to N7.85 per share.
Fidelity Bank rose 9.92 percent to N2.77 per share, Access Bank rose 4.14 percent to N8.80 per share while ETI closed higher by 8.33 percent to N6.50 a share.
The market capitalisation rose to 21.51 trillion compared with N21.05 trillion at the close of trading for the year 2020.
The equity market ended last year on a stellar note, outperforming the global index and hitting its highest market cap of N21 trillion.