Nigerian stocks hit biggest daily gain for 6 months

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Nigerian stocks posted their biggest daily rise for six months on Tuesday, March 7, rising 2.23 percent to 25,129 points.

Nigeria’s biggest listed company, Dangote Cement rose 4.92 percent.

Dangote Cement  is majority-owned by Africa’s richest man Aliko Dangote. The company accounts for a third of total market capitalisation.

Brokers said stock were boosted by better than expected corporate results especially from the banking sector after Zenith Bank and Access Bank declared dividends amidst a weak economic outlook.

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