• Friday, April 19, 2024
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BusinessDay

Stock market gains over N160bn in early trade on Wednesday

Stock market closes in red as investors await MPC outcome

Nigeria’s equities market which has been on the losing path since this week gained about N167billion in early trading on Wednesday.

As at 12.30pm, the market was up by 0.30percent as its benchmark Index and equities value rose to 101,364.39 points and N55.465 trillion from preceding day’s lows of 101,060.67 points and N55.298trillion.

Read also: Stock market falls further by 0.11% in early trading on Tuesday

Market watchers had anticipated the bearish trend seen since this week to continue.

“We anticipate another bearish trading session, as interest in the equity market remains weak largely on the back of rate increase in the fixed income space,” Lagos-based Vetiva analysts had said at the close of trading on Tuesday.

As at 12.30 pm, investors in 4,866 deals exchanged 108,134,288 shares worth N1.956billion.