Equities market moves further north by 0.81%

Nigeria’s equities market strengthened its journey into the green zone on Thursday, July 6 by 0.81percent or N270billion as investors positive sentiments persist on the Nigerian Exchange Limited (NGX).

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and Market Capitalisation increased from preceding day’s low of 61,523.57 points and N33.500trillion respectively to 62,019.88 points and N33.770trillion.

Union Bank, Learn Africa, Eterna, Conoil and MRS lead the league of advancers on Thursday. Union Bank share price increased most, from N7.50 to N8.25, up by 75kobo or 10percent.

Learn Africa followed after rising from N3.20 to N3.52, up by 32kobo or 10percent. Eterna also rose from N23.50 to N25.85, up by N2.35 or 10percent.

Read also: One dollar now trading at N792.50 at parallel market

Conoil advanced from N93 to N102.30, up by N9.30 or 10percent, while MRS moved from N83 to N91.30, adding N8.30 or 10percent.

At the close of trading, the market’s year-to-date (YtD) positive return increased to 21.01percent.

“Although sentiments still remain positive in the long-term, investors continue to move in and out of their positions, while still taking a cautious stance,” Lagos-based analysts Vetiva Research had said ahead of Thursday trading.

Stocks like FBN Holdings, FCMB Group, Access Corporation, Japaul Gold and Transcorp were actively traded as investors in 9,948 deals exchanged 5,443,829,746 shares worth N95.005billion.