• Friday, July 19, 2024
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Investors gain N532bn as stocks extend rally

Stock market records marginal gain, Naira stable at 900/$

Nigeria’s equities market sentiments improved further on Thursday as banks half-year (H1) results and corporate actions continued to drive buy-interest in selected names.

This is in addition to improved buy activities in some large-cap names that helped lift stocks performance.

The market grew by 2.03 percent, while investors booked additional gain of N532billion on Thursday. This pushed the record positive return year-to-date (YtD) higher to 16.26 percent.

Read also: World Bank, US agency stake $3bn in Nigeria’s energy transition plan

The market’s All-Share Index (ASI) and capitalisation increased further, from preceding day lows of 48,675.24 points and N26.253trillion respectively to 49,661.87 points and N26.785billion.

Learn Africa topped the league of gainers after moving from N2.25 to N2.47, up by 22kobo or 9.78 percent, followed by Multiverse which rose from N2.10 to N2.30, adding 20kobo or 9.52percent, while Caverton Offshore Support Group made the top advancers league after its share price moved up from N1.05 to N1.15, adding 10kobo or 9.52 percent.

In 3,515 deals, investors exchanged 226,472,725 shares valued at N2.763billion. Mutual Benefit, FBN Holdings, Access Holdings, UBA and NEM Insurance were top-5 traded stocks on the Nigerian Exchange Limited (NGX) on Thursday.