Nigeria’s equities market closed in the green zone (+0.17percent) on Thursday, September 2 as sell-side pressure decreases on the Bourse.
Investors moved to buy banking, insurance and industrial stocks. All key sectoral indices closed in the green zone, except NGX Oil & Gas (-1.22 percent) and NGX Consumer Goods (- 0.06percent).
NGX Banking Index increased by +0.19percent, NGX Insurance (+1.07percent), NGX Industrial (+0.44percent).
Equity investors booked about N36billion gain at the close of trading session.
Read also: Nigeria’s equities market gains only N1bn in one week
With sell pressure now failing to hold sway in the market, analysts expect investors to start looking out for fundamentally sound names with lower entry price.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation moved up from preceding day’s lows of 39,184.18 points and N20.415trillion to 39,252.19 points and N20.451trillion.
The record negative return year-to-date (YtD) stood lower at -2.53percent at the close of trading session on Thursday.
