Nigerian Stock: Index Rises By 0.5% Buying Interest Persists On NGX

Nigerian Exchange Limited (NGX) was aided to close on an upward note Monday, Sustained buying interest in the shares of some blue-chip stocks, as the All-Share Index (ASI) appreciated further by 0.5 per cent.

At the close of trading Monday, the ASI grew by 181.18 absolute points, representing an increase of 0.47 per cent to close at 38,849.08 points. Similarly, the overall market capitalisation value gained N94 billion to close at N20.241 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks among which are, Airtel Africa, Julius Berger, Ardova, Lafarge Africa, and UAC of Nigeria (UACN).

Analysts at Afrinvest Limited said: “In the next trading session, we expect the positive performance to be sustained barring the release of an underperforming half year, 2021 earnings results.