Stock Market Gains N48billion as Equities Maintain Modest Rally

Despite investors’ cautious moves, trading activities at the Nigerian stock market resumed on Monday, January 25 with sustained positive sentiments.

Key benchmark indices showed modest improvements as investors await the decisions of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), which started its two-day meeting on Monday and it is scheduled to conclude and make its monetary policy statements on today.

With 25 gainers to 15 losers, aggregate market value of all quoted equities improved by N48 billion from N8.194 trillion to close at N8.242 trillion.

The sustained uptrend helped to reduce the accumulated losses so far this year, reducing the negative average year-to-date return to -16.33 per cent.

Total turnover stood at 215.18 million shares worth N2.10 billion in 3,861 deals.