Nigerian stocks rise 2.14pc to extend 2020 rally

ABUJA: Nigerian stocks rose 2.18% on Monday, its first trading session of 2021, extending last year’s rally, lifted by shares of banking and consumer goods companies.

The index climbed to 41,148.95 points, a level last seen in May 2018, almost a three-year high.

Nigeria’s stock index climbed 50% in 2020, its highest level in 17 years after domestic investors piled into equities in the last quarter of the year following excess cash on money markets due to low bond yields.

Reuters