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Geregu, other stocks cause market to close in green

Stock market extends rally by 0.53%

Nigeria’s equities market on Thursday rose by 0.29percent while investors gained N84billion.

The record positive close came as investors bought mostly shares of Geregu Power, Chellarams and some others seen on the advancers list.

Investors are expected to continue reacting to some of the companies that have released their result. This will dictate equities market direction in this first quarter (Q1).

At the close of trading session on Thursday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its equities market capitalisation increased from preceding day’s low of 52,599.65 points and N28.649trillion to 52,752.96 points and N28.733trillion.

Week-to-date (WtD), the market has increased by 0.30 percent amid two sessions of negative closes matched by corresponding sessions on positives.

Read also: Nigeria’s stock market rises by 2.62% year-to-date

Geregu Power topped other advancers on Thursday after its share price moved up from N134 to N147.40, up by N13.40 or 10percent. It was followed by that of Chellarams which rose from N1.65 to N1.81, up by 16kobo or 9.70percent.

The market’s positive return Year-to-Date (YtD) has risen to 2.93 percent. In 3,549 deals, investors exchanged 139,681,557 shares valued at N2.021billion.

GTCO, Access Corporation, Fidelity Bank, Mutual Benefits Assurance and Dangote Sugar Refinery were top-5 traded stocks on the Nigerian Exchange.