• Saturday, February 24, 2024
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Investors gain N508bn as stock market rises further by 1.28%

Mixed sentiments trial stocks despite positive start to new week

Nigeria’s equities market furthered its upward trajectory on Wednesday by 1.28 percent, making it the third consecutive rally this week.

Investors gained about N508billion following rally in Multiverse Mining and Exploration, Infinity Trust Mortgage Bank, Transcorp and Caverton Offshore Support Group, among others.

This week, the market has risen by 1.39 percent while month-to-date (MtD) it is up by 2.85 percent.

The record positive close on Wednesday pushed higher market’s year-to-date (YtD) return to + 43.21 percent.

At the close of trading, Nigeria’s equities market All-Share Index (ASI) and its capitalisation increased from preceding day’s lows of 72,470.1 points and N39.656 trillion respectively to 73,397.71 points and N40.164 trillion.

Multiverse led the league of gainers after its share price rose from N10.50 to N11.55, adding N1.05 or 10 percent. Transcorp also moved from N7 to N7.70, adding 70kobo or 10 percent.

Infinity Trust Mortgage Bank increased from preceding day’s low of N3.41 to N3.75, up by 34kobo or 9.97percent.

Also, Etranzact rose from N5.65 to N6.20, adding 55 kobo or 9.73 percent, while Caverton Offshore Support Group increased from N1.76 to N1.93, adding 17 kobo or 9.66 percent.

GTCO, Access Corporation, UBA, Transcorp and FCMB Group were actively traded stocks. In 7,910 deals, investors exchanged
54,644,050 shares worth N12.829billion.