• Thursday, June 13, 2024
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BusinessDay

Market closes in green as investors buy penny stocks

Total, Flour Mills, Access Holdings cause market’s N324bn gain as week opens

Nigeria’s equities market on Thursday failed to stay on the preceding day’s loss path, rising by 0.27 percent or N94billion at the close of trading.

Investors interest in penny stocks helped the market to close in green. For instance, stocks like Eunisell Interlinked, University Press, Academy Press, Chellaram, and Ikeja Hotel were topmost on the advancers list.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from preceding day’s lows of 63,757.23 points and N34.716trillion to 63,930.72 points and N34.810trillion.

Read also: Naira falls to all-time low of N860 per dollar

Stocks like UBA, Sterling Bank, FBN Holdings, Japaul Gold, Universal Insurance were actively traded as investors in 7,179 deals exchanged 1,358,946,966 shares worth
N18.066billion.

University Press led the market’s gainers after rising from N2.20 to N2.42, up 22kobo or 10percent. Eunisell Interlinked increased from N2.91 to N3.20, up by 29kobo or 9.97percent.

Academy Press rose from N2.21 to N2.43, adding 22kobo or 9.95percent, Chellaram increased from N2.12 to N2.33, up 21kobo or 9.91percent, while Ikeja Hotel advanced from N2.56 to N2.80, adding 24kobo or 9.38percent.