Stock market moves further high by 0.16%

The stock market of Africa’s largest economy moved further north on Tuesday by 0.16percent as investors continued to raise bet on value stocks.

Investors bought stocks like Skyway Aviation Handling Company Plc, Learn Africa, Academy Press, and others that topped the league of gainers.

The stock market’s positive return year-to-date (YtD) printed further high at 15.33percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from preceding day’s 59,000.96points and N32.126 trillion respectively to 59,110.02 points and N32.190 trillion.

Same as the preceding trading day, penny stocks continued to dominate the top gainers chart as investors took to low-priced equities while still trading cautiously in the market.

Acedemy Press led the gainer after moving from N1.80 to N1.98, up 18kobo or 10percent. Chams also rose to make the top advancers league, from 40kobo to N44, up by 4kobo or 10percent.

Guinea Insurance increased from 20kobo to 22kobo, adding 2kobo or 10percent, Skyway Aviation Handling Company rallied from N7 to N7.70, up by 70kobo or 10percent, while Learn Africa increased from N2.42 to N2.66, adding 24kobo or 9.92percent.

UBA, GTCO, Transcorp, Access Corporation and Veritas Kapital Assurance were actively traded stocks on the Nigerian Exchange.