Stock market moves higher by 0.05% as investors buy Conoil, others

Nigeria’s equities market increased by 0.05percent or N14billion on Tuesday, recording its second gain this week, as investors showed interest in shares of Conoil, Multiverse, John Holt, CWG and Transcorp.

Conoil share price moved up most on the Bourse from N44 to N48.40, up by N4.40 or 10percent, followed by Multiverse which rose from day open low of N3.41 to N3.75, adding 34kobo or 9.97percent.

John Holt advanced from N1.74 to N1.91, up by 17kobo or 9.77percent; CWG followed after its share price moved up from N1.45 to N1.59, adding 14kobo or 9.66 percent, while Transcorp rose from day open low of N1.79 to N1.96, up by 17kobo or 9.50percent.

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The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its equities Market Capitalisation increased from preceding day’s low of 52,579.52 point and N28.629 trillion respectively to 52,605.41 points and N28.643 trillion.

In 5,684 deals, investors exchanged 640,968,526 shares valued at N7.132billion. Access Corporation, UBA, FBN Holdings, Zenith Bank and NEM Insurance were actively traded stocks on Tuesday.

The market’s positive return year-to-date (YtD) increased further to 2.64 percent.