Oando, Legend Internet, other stocks push NGX-ASI further high by 0.32%

Investors in Nigeria’s equities market recorded N224billion gain at the close of trading on Wednesday as buy interest in stocks like Oando, UH Real Estate Investment Trust, Legend Internet, Lasaco and other major advancers led the market to a positive close.

The stock market increased by 0.32 percent at the close of Wednesday’s trading session, driving this year’s return higher to +9.58 percent.

Shares of Fidelity Bank, GTCO, Royal Exchange, UBA and Access Holdings were actively traded on Wednesday.

In 13,682 deals, investors exchanged 611,527,369 shares valued at N16.680billion.

Read also: NGX-ASI dips by 0.10% as investors sell banking stocks

Oando led the gainers after rising from N47 to N51.70, up by N4.70 or 10 percent. UH Real Estate Investment Trust moved from N45.70 to N50.25, adding N4.55 or 9.96 percent.

Legend Internet increased from N5.50 to N5.90, up by 40kobo or 7.27 percent, while Lasaco rallied from N3 to N3.20, up by 20kobo or 6.67 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased further on Wednesday by 0.32 percent from preceding day’s lows of 112,427.48 points and N70.894 trillion respectively to 112,781.73 points and N71.118 trillion.

“Without any major headlines to shake things up, it really comes down to those dividend-driven flows keeping sentiment ticking over,” Vetiva analysts said ahead of Wednesday’s trading.