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Following gains recorded by Okomu oil and 32 stocks, the bulls resurfaced in the equities sector of the Nigerian Exchange Limited (NGX), yesterday, causing market capitalisation to increase by N11 billion.

At the close of transactions yesterday, the All-Share Index (ASI) gained by 17.20 points, representing a growth of 0.02 per cent to close at 107,798.99 points. Accordingly, market capitalisation rose by N11 billion to close at N67.179 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Okomu Oil, Africa Prudential, Eterna, Nigerian Breweries and United Capital.

On market outlook, Afrinvest Limited said: “In the next trading session, we expect the positive performance to be sustained due to improved investor sentiment.”

Investor sentiment, as measured by market breadth, closed positive as 34 stocks advanced, while 16 declined. Africa Prudential recorded the highest price gain of 9.90 per cent to close at N33.10 kobo.

https://guardian.ng/business-services/business/gains-in-okomu-oil-32-stocks-lift-capitalisation-by-n11-billion/