• Friday, July 12, 2024
businessday logo


Equities market halts 6-day loss trend with N5bn gain

MTNN, other stocks drive market’s negative start to new week

Nigeria’s stock market rose slightly by 0.02percent or N5billion on Tuesday, halting record six days of negative closes.

Thanks to investors who raised bets in banking, insurance and industrial stocks.

NEM Insurance Plc led the gainers after its share price increased from N2.25 to N2.42, up by 17kobo or 7.56percent, while Seplat Energy Plc dipped most, from N650 to N615, shedding N35 or 5.38percent.

Read also: Securities dealers trade N1.544trn worth of Nigeria’s stocks in 10 months

The Nigerian Exchange Limited (NGX) All Share Index (ASI) increased from Monday’s low of 42,008.60 points to 42,018.92 points while the value of listed stocks on the Bourse increased to N21.925trillion from preceding day’s low of N 21.920trillion, up by N5billion.

FBN Holdings, Sterling, ETI, GTCO and Fidelity Bank were most traded stocks Tuesday on the Nigerian Exchange. In 4,564 deals, investors exchanged 639,442,224 units valued at N6.626billion.

The stock market’s positive return year-to-date (YtD) increased to 4.34percent at the close of trading session on Tuesday.