Equities market closes in green zone

Nigeria’s equities market closed slightly in green by 0.07 percent or N27billion on Thursday amid pockets of bargain in small to mid-cap stocks.

Ahead of Thursday’s trading, equity research analysts at Lagos-based Vetiva who still expected some level of cherry picking activities across sectors, noted that the market activity remain relatively low, “as most investors trade cautiously in the market.

At the close of trading session on the Nigerian Exchange Limited (NGX), its All-Share Index (ASI) and market capitalisation increased from preceding trading day’s lows of 71,003.98 points and N39.047trillion respectively to 71,052.85 points and N39.074trillion. This year’s return increased to 38.63 percent.

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Beta Glass led the league of market’s advancers after its share price rose from N54 to N59.40, up by N5.40 or 10percent.

Multiverse also rose from N4.81 to N5.29, adding 48kobo or 9.98 percent, followed by Mecure Industries increased from N7.62 to N8.38, up by 76kobo or 9.97percent.

Also, Nigerian Enamelware increased from N17.55 to N19.30, adding N1.75 or 9.97 percent.

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In 6,579 deals, investors exchanged 563,707,721 shares worth N3.442billion.
Universal Insurance, Veritas Kapital Assurance, Unity Bank, Chams and Zenith Bank were actively traded stocks.