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Stock market closes in green as investors start bargain hunting

Nigeria’s stock market ended Wednesday July 8 trading session in the green as a result of upward movement in some large cap stocks.

Notably, bargain hunting in stocks like Julius Berger, GTBank, Lafarge Africa, Okomu and Zenith helped redirect the stock market northward.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) closed higher by 0.75 percent to 24,278.07 points as against preceding day low of 24,097.48 points.

Also, the value of listed stocks increased to N12.664trillion from preceding trading day low of N12.570 trillion.

The stock market’s negative return year-to-date (ytd) decreased by -9.55percent.

Investors gained about N94billion at the close of trading session. In 3,523 deals, investors exchanged 232,609,049 units valued at    N4.698billion.

Fidelity Bank, MTNN, Lafarge Africa, GTBank and Zenith were actively traded stocks on Wednesday July 8, 2020.

The share price of Julius Berger Nigeria Plc increased most from N15.65 to N17.2, adding N1.55 or 9.90percent; followed by GTBank Plc which increased from N21.05 to N22.5, up by N1.45 or 6.89percent. Larfarge rallied from N10 to N11, adding N1 or 10percent.

Okomu Oil rose from N69.7 to N70.5, up by 80kobo or 1.15percent; while Zenith Bank Plc increased from N16.35 to N16.65, up by 0.3    kobo or 1.83percent.

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