Nigeria’s equities market closed in green on Tuesday, August 24, thereby strengthening analysts’ views that investors will continue positive patronage in some penny stocks, despite the market’s negative start to a new trading week.
Penny stocks like Morison Industries Plc, Regency Alliance Insurance Plc, Tripple Gee and Company Plc, Consolidated Hallmark Insurance Plc, and Jaiz Bank Plc were among stocks that helped the market to close in green.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased slightly by 0.07percent or N13billion, from preceding lows of 39,434.69 points and N20.546trillion respectively to 39,460.68 points and N20.559trillion.
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Morison Industries Plc share price increased from N1.40 to N1.54, up by 14kobo or 10percent, followed by Regency Alliance Insurance Plc which increased from 42kobo to 46kobo, up by 4kobo or 9.52percent.
Tripple Gee and Company Plc went up from 88kobo to 96kobo, up 8kobo or 9.09percent, Consolidated Hallmark Insurance Plc advanced from 47kobo to 51kobo, up by 4kobo or 8.51percent, while Jaiz Bank Plc rallied from a low of 58kobo to 62kobo, up 4kobo or 6.90percent.
Stocks that were actively traded include Courteville Business Solutions Plc, Sovereign Trust Insurance Plc, Wema Bank Plc, UBA Plc and FBN Holdings Plc. Investors in 3,881 deals exchanged 196,808,223 units valued at N1.45billion. The market’s negative return year-to-date (YtD) stood lower at -2.01percent.
