• Sunday, December 10, 2023
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Market moves further north by 0.44% as BUA Foods, others rally

Market gains N185bn as investors hunt for consumer goods, banking stocks

For the second time this week, BUA Food Plc led the league of advancers on the Nigerian Exchange Limited (NGX) that drove the market to new high.

The Nigerian Exchange Limited All-Share Index (ASI) and Market Capitalisation increased further on Tuesday by 0.44 percent or N158billion from preceding day’s 65,202.41 points and N35.684 trillion respectively to 65,488.67 points and N35.842 trillion.

BUA Foods rose most after its share price moved from preceding day’s low of N152.90 to N165, up by N12.10 or 7.91percent.

Read also: Naira hits new low of 900/$ after JP Morgan revelations

It was followed by Computer Warehouse Group (CWG) which closed higher, from N3.90 to N4.28, adding 38kobo or 9.74 percent; and Cornerstone Insurance which increased from N1.22 to N1.34, adding 12kobo or 9.84 percent.

Year-to-date (YtD), the market has risen by 27.78 percent while month-to-date (MtD), the market has risen by 1.79percent. In 5,895 deals, investors exchanged 293,463,083 shares worth N4.122billion.

Transcorp, Access Corporation, Fidelity Bank, Omatek, and ETI were actively traded stocks on Tuesday.