• Thursday, July 18, 2024
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Nigerian Breweries, NEM, UACN, others cause market’s N114bn gain

Stock market records first negative close this week

Nigeria’s equities market increased by 0.20 percent or N114billion at the close of trading on Thursday as investors after Wednesday’s public holiday approached stocks trading from the buy-side.

Investors bought mostly the shares of Nigerian Breweries, NEM Insurance and UACN which led the league of top advancers on the Bourse at the close of trading on Thursday.

Nigerian Breweries share price moved up most from N29 to N31.90, adding N2.90 or 10percent. NEM Insurance rose from N8.70 to N9.55, adding 85kobo or 9.77percent. UACN rallied from N13.30 to N14.45, up by N1.15 or 8.65percent.

This week, the market has risen by 0.61 percent while this month it its up by 0.52 percent. The stock market’s year-to-date (YtD) return increased to 33.51 percent.

Zenith Bank, AIICO, Access Holdings, GTCO and UBA were actively traded stocks as investors in 9,686 deals exchanged 502,599,278 shares worth N8.653billion.

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation increased from preceding day’s 99,630.51 points and N56.359 trillion respectively to 99,832.25 points and N56.473 trillion.