Nigerian stock index rises as bank shares gain

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Image result for Nigerian stock index rises as bank shares gainNigerian stocks closed higher on Friday for the second consecutive day, lifted by shares in banking, cement and a consumer goods maker.

But the stock market cumulatively depreciated by 3.35 per cent this week, owing majorly to profit-taking activities by investors following major gains the past weeks.

Reuters reported that the main share index ended up by 1.66 per cent at 36,920 points after bargain hunters returned to take positions in Guaranty Trust Bank Plc and Zenith Bank Plc, two top lenders shunned early in the week over a disappointing interim dividend payout.

GTBank shares rose by 6.47 per cent to close at N39.50, while Zenith Bank gained 6.61 per cent to close at N24.53.


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