• Friday, June 21, 2024
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Nigeria’s stock market rally slows by 0.03%

Domestic investors raise bet in Nigerian equities market

The rally seen recently at Nigeria’s equities market reduced on Wednesday August 4, evidenced in the slightly positive close by 0.03percent. The insignificant gain came as investors continued to take profit on some stocks while others still moved to buy up value counters.

The share price of Cutix Plc advanced most, from N5 to N5.50, up by 50kobo or 10percent, while on the laggards list; Caverton Offshore Support led others after its share price decreased from N1.88 to N1.80, losing 8kobo or 4.26percent.

Cumulatively, equity investors gained only N5billion at the close of trading session on the Bourse.

Read also: Oil majors’ divestment: How local operators can finance deals

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased slightly from day-open lows of 38,917.99 points and N20.276trillion respectively to 38,927.83 points and N20.281trillion.

The stock market’s negative return year-to-date (Ytd) decreased to -3.33percent.

Sterling Bank, Transnational Corporation, UBA, Wema Bank, and AIICO were actively traded stocks on the NGX.

In 3,435 deals, equity dealers exchanged 206,292,307 units valued at N1.069billion.