BusinessDay

Market sees slight gain as investors buy penny stocks

Nigeria’s equities market recorded slight increase by 0.02 percent or N6billion on Thursday amid lingering sell pressure on the Bourse.

The record positive close on Thursday was driven by penny stocks like International Energy Insurance Plc, CWG, Caverton Offshore Support Group, John Holt and Linkage Assurance Plc.

At the close of trading session, the market’s benchmark performance indicators – the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from preceding day’s lows of 52,615.51 points and N28.658trillion to 52,626.42 points and N28.664trillion. This year, the market has risen by 2.68 percent.

Read also: Honeywell, Chellaram, other stocks cause market’s N90bn loss

Zenith Bank, GTCO, UBA, Royal Exchange and Access Corporation were top-5 traded stocks on the Nigerian Exchange Limited as investors in
3,183 deals exchanged 129,038,807 shares valued at N1.819billion.