• Thursday, May 02, 2024
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BusinessDay

Stock market closes slightly in the green zone

Bank stocks seen rally as recapitalisation, dividend drive buy interest

Nigeria’s equities market closed slightly in the green zone on Wednesday November 4 amid a mix of bargain hunting activities in some counters and profit taking in others.

Chemical and Allied Products Plc rallied most, from day-open low of N22.3 to N23, adding 7kobo or 3.14percent, followed by FCMB Group which moved up from N2.9 to N3.05, adding 15 kobo or 5.17percent while GTBank increased from N32 to N32.1, up by 10kobo or 0.31percent.

At the close of remote trading session, the Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 0.03percent to 30,741.88 points, from preceding day low of 30,733.47points while the market capitalisation increased to N16.068billion.

The market’s year-to-date (ytd) positive return increased to +14.53percent.

Access Bank, Zenith Bank, UBA, Mutual Benefit and Stanbic IBTC were actively traded stocks on the Nigerian Bourse. In 2,889 deals investors exchanged 286,446,480 units valued at N3.094billion.