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Nigeria’s stock market rises by 0.09%

Stocks lose N519bn as CBN raises key interest rate

Nigeria’s stock market rerouted north of Wednesday, rising by about 0.09percent as the Bourse continues to witness sessions of bargain hunting and profit taking activities.

Equity investors gained about N21billion at the close of trading session on Wednesday. The market closed in the green zone as investors raised bets in RedStar which rose most by 7.94 percent, while others like Meyer increased by 7.69percent, Japaul Gold (+5.41 percent), UPDC (+4.35 percent) and Africa Prudential (+4.10 percent).

Read also: Global markets update: Oil rises above $63, stocks at record highs

In 3,476 deals, equity traders exchanged 226,179,887 shares valued at N2.632 billion. International Breweries, FBN Holdings, GTCO, Unilever and Mutual Benefit were most traded stocks on the NGX.

The Nigerian Exchange Limited (NGX) All-Share Index and Market Capitalisation which stood at preceding day’s lows 42,317.52 points and N22.081trillion respectively increased to 42,357.36 points and N22.102 trillion.
The stock market’s year-to-date (YtD) positive return increased to 5.18percent.