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Market moves higher by 0.50% as investors buy CAP, Ardova, others

Increased buy-side activities in favour of stocks like CAP Plc, Ardova Plc, Learn Africa Plc and other counters pushed the Nigerian market higher by 0.50 percent on Thursday.

This week, the nation’s stock market has increased by 0.72 percent amid mixed trading sessions.

CAP Plc led the gainers league after its share price moved up from N16.20 to N17.80, adding N1.60 or 9.88 percent.

Ardova Plc also increased from N15.25 to N16.70, adding N1.45 or 9.51 percent. Also, Learn Africa Plc moved up from preceding day low of N1.97 to N2.13, up by 16kobo or 8.12percent.

On the decliners list, Geregu led others after its share price moved down from N111 to N102 losing N9 or 8.11percent.

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Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation increased further on Thursday by 0.50percent or N133billion, from 48,988.04 points and N26.682trillion to 49,233.02 percent and N26.815trillion.

Sterling Bank, GTCO, Zenith Bank, FBN Holdings and UBA were top-5 traded stocks on the Nigerian Exchange Limited (NGX) as investors in 2,756 deals exchanged 222,775,126 shares valued at N2.129billion.

Following the record positive on the Bourse, the market has risen further by 3.30percent month-to-date (MtD).

Also, the stock market year-to-date (YtD) positive return increased to15.26percent.