• Saturday, September 28, 2024
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BusinessDay

Stock market records first gain this week

Conoil, Oando, others cause market to open Sept. on a positive note

Nigeria’s equities market rose by 0.17 percent or N41billion on Wednesday, its first gain this week.

Stocks like Oando, CWG, FTN Cocoa, and C&I Leasing helped the market’s positive close.

The market’s performance indicators – the All Share Index (ASI) and equities market capitalisation – increased to 99,385.44 points and N56.221trillion respectively as against preceding trading day’s lows of 99,217.6 points and N56.126trillion.

Read also: Femi Otedola stakes additional N183m in FBN Holdings shares

Oando led the gainers after rising from N12.50 to N13.75, up N1.25 or 10percent. FTN Cocoa went up from N1.40 to N1.54, up by 14kobo or 10percent.

CWG rose from N6 to N6.60, up by 60kobo or 10percent, while C&I Leasing increased from N3 to N3.28, adding 28kobo or 9.33percent.

Stock investors in 7,597 deals exchanged 276,363,726 shares worth N4.120billion.

Access Holdings, AIICO, GTCO, Fidelity Bank and Skyway Aviation Handling Company were actively traded stocks on Wednesday.

The market’s positive close pushed its year-to-date (YtD) return higher to 32.91 percent at the close of trading on Wednesday.

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).