Nigeria stocks gain for second day, banks rally

Nigerian stocks climbed 2.04% on Wednesday, extending gains for the second session in 2024 after banks, consumer goods and oil shares gained, LSEG data showed.

The index all share index rose to 77,537.57 points, its highest ever. It gained 1.63% on Tuesday, the first trading session of this year, extending 2023 gains of 45.90%.

On Wednesday, banking shares climbed 6.66% while consumer goods firms gained 2.42%. Oil firms rose 1.89%.

The share index crossed a psychological threshold of 70,000 points for the first time in November.

Article originally appeared on Reuters

Image from Business Day