Stock investors gain N534bn as market rallies into July

Nigeria’s equities market continued its upward movement by 1.61percent on Monday July 3, the first trading day in the new month.

This comes as investors expectedly take positions in value stocks ahead of half-year (H1) earnings season and possible announcements of interim dividends.

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and Market Capitalisation increased to 61,949.24 points and N33.731trillion as against preceding trading day’s 60,968.27 points and N33.197 trillion.

Japaul Gold, Eterna, Fidelity Bank, Linkage Assurance and University Press rallied most on Monday.

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The stock market’s year-to-date (YtD) return increased to 20.87percent as investors booked about N534billion gain at the close of trading.

Japaul Gold increased from 70 to 77kobo, adding 7kobo or 10percent, while Eterna rose from N21 to N23.10, up by N2.10 or 10percent.

Also, Fidelity Bank increased from N7 to N7.70, adding 70kobo or 10percent. Linkage Assurance moved from 70kobo to 77kobo, adding 7kobo or 10percent, while University Press increased from N2.50 to N2.75, adding 25kobo or 10percent.

FCMB Group, UBA, Access Corporation, Jaiz Bank and Transcorp were most traded stocks as investors in 12,128 deals exchanged 1,205,487,439 shares valued at N14.039billion.