Nigerian equity market closes year on positive note, gains 1.27%

Stockbrokers at the floor of the Nigerian Stock Market

The bulls had the upper hands on the last day of trading in 2018 at the Nigeria stock market closed the year 2018 on a positive note, gaining 1.27 per cent.

This was on the back of gains in Dangote Cement, Seplat and 30 other stocks.

The All Share Index (ASI) ramped up by 392.78 absolute points, representing an increase of 1.27 per cent, closing at 31,430.50 points, while Market Capitalization increased by N383.62 billion representing a growth of 3.38 per cent, to end year at N11.72trillion..

The official listing of 11,886,823,200 ordinary shares of CCNN, due to the scheme of merger between CCNN and Kalambaina Cement Company Limited, helped boost the Market Capitalization.

Vitafoam added 10 per cent to emerge the top gainer, while Stanbic shed 9.95 per cent top 16 other losers.