The Nigerian Exchange (NGX) closed positive at the end of today’s trading session, rising for the second day by 3.13 per cent, and boosting stock value by almost one trillion naira.
The All Share Index ASI closed at 59,985.10 as against the 3.99% rise on Tuesday, when the ASI reached 58,163.55 index points.
ASI was 55,738.35 on 30 May this year, a day after President Bola Tinubu took over and announced investor-friendly measures.
Today’s rise may have been ignited by reports that the CBN had given banks the green light to trade freely in foreign exchange.
The market capitalization of equities appreciated by N992 billion to close at N32.662 trillion, a 3.13% gain compared to the N31.670 trillion recorded in the previous trading session.
Market breadth closed positive as many stocks soared higher.
Airtel Africa increased from N1196 to N1289 and AccessCorp rose from N13 to N14.30. The most capitalised stocks, MTNN and Dangote Cement also rose.
Dangote Cement closed at N286 and MTNN at N259.
Other risers are UBA N10.90, Flour Mills N34.75 from N33.10; GTCO and Zenith Bank from N28 to N30.80.
Sterling Bank rose for the second day to trade at N2.50 from N2.28. FCMB also rose from N4.59 to N5.00.
Agricultural stocks such as Okomu and Presco Plc also gained more value. Okomu rose from N199 to N215, while Presco leapt from N166.90 to N178.
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