Stock market furthers gains by 0.47%

Nigeria’s stock market’s performance indicators – the All-Share Index and Market Capitalisation –increased further by 0.47 percent or N131billion
on Thursday to 51,618.73 points and N27.828trillion respectively as against preceding day low of 51,377.21 points and N27.697trillion.

Stocks like FBN Holdings, Livestock Feeds, Union Bank and others helped the market’s positive close. Investors have been cherry-picking fundamentally sound names like these after the market recorded remarkable loss last week.

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FBN Holdings advanced most on the Bourse, after rising from N9.20 to N10.10, up by 90kobo or 9.78percent. Also, Union Bank increased from
N5.65 to N6, adding 35kobo or 6.19percent; followed by Livestock Feeds which rallied from N1.44 to N1.54, up by 10kobo or 6.94percent.

Mutual Benefit, Oando, FCMB Group, Access Holdings and FBN Holdings were most traded stocks on the Nigerian Exchange Limited (NGX) on Thursday.

In 4,028 deals, investors exchanged 223,245,093 shares valued at N2.858billion. Also, the market’s positive return year-to-date (YtD) increased to 20.84percent.

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