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NSE celebrates bullish market, capitalisation climbs to N19trn

The Nigerian Stock Exchange (NSE) is celebrating a bullish market, as capitalisation climbs to N19 trillion on Friday, December 18, 2020, made possible by a gain of N296 billion across some blue chips.

Specifically, the market capitalisation which opened at N18.940 trillion rose by N296 billion or 1.56 per cent to close at N19.236 trillion.

Also, the NSE All-Share Index inched higher by 565.13 points or 1.56 per cent to close at 36,804.75 from 36,239.62 achieved on Thursday.

Mr Ambrose Omordion, Chief Operating Officer, InvestData Ltd., attributed the market rally to reopening of four land borders and low yield environment in the fixed income instruments.

He said that the reopening of four land borders across the country after 15 months, oil price rally, COVID-19 vaccine and expected early passage of 2021 budget were responsible for the bullish market.

Dangote Cement led the gainers’ table with N9.50 kobo to close at N209.50 per share.

It was followed by MTN Nigeria with N5 to close at N160, while Ardova gained N1.05 to close at N14.30 per share.

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