• Wednesday, February 28, 2024
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BusinessDay

Index crosses 74,000 mark as stock market rally continues

NGX, partners say Single Stock Futures to deepen market

Nigeria’s equities market rose further by 1.21 percent on Thursday, pushing the market’s benchmark performance indicator – All Share Index (ASI) – above 74,000 mark. Equities value rose further by N488billion.

Thanks to Okomu Oil Palm, IMG, Transcorp, Multiverse and other top advancers on the Nigerian Exchange Limited (NGX) that pushed the market’s to new high.

In 7,990 deals, investors exchanged 760,929,521 shares worth
N13.026billion. Abbey Building, Access Corporation, Transcorp, UBA and GTCO were most traded stocks on Thursday.

IMG rallied most, after rising from N8.50 to N9.35, up by 85kobo or 10 percent. Transcorp also moved from N7.70 to N8.47, adding 77kobo or 10 percent.

Okomu Oil Palm increased from N240 to N263.90, up by N23.90 or 9.96 percent. Multiverse moved from N11.55 to N12.70, adding N1.15 or 9.96 percent, while Infinity Trust Mortgage Bank increased from N3.75 to N4.12, up by 37kobo or 9.87 percent.

Another session of positive close on Thursday pushed higher market’s year-to-date (YtD) return to + 44.95 percent.

At the close of trading, Nigeria’s equities market All-Share Index (ASI) and its capitalisation increased from preceding day’s lows of 73,397.71 points and N40.164 trillion respectively to 74,289.02 points and N40.652trillion.