• Sunday, April 14, 2024
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BusinessDay

Market sees early gain on Thursday as investors buy banking stocks

Stock market closes in red as investors await MPC outcome

Stock trading on the Nigerian bourse commenced Thursday on a slightly positive note, rising by N19billion as at 11.10am.

The market is defying analysts expectation that it will revert to bearish route today barring any major upside in the large-cap counters.

Investors were on Thursday seen buying banking stocks like Fidelity Bank, GTCO, Zenith Bank and Sterling that leading early gains on Thursday.
In 1,939 deals, investors exchanged 40,437,723 shares worth N1.239billion. UBA, GTCO, Wema, Access Holdings and Transcorp were actively traded as at 11.10am.

As at that trading time, the Nigerian Exchange Limited (NGX) All Share Index (ASI) rose from preceding day’s low of 101,362.38 points to 101,397.06 points while equities value has moved up to N55.482trillion from N55.463 trillion seen the preceding trading day.