Stock market reroute north by 0.42%

Despite its negative take off to this week’s trading, Nigeria’s equities market on Tuesday re-routed north by 0.42 percent.

The record positive on the Bourse came as investors continued to favour stocks in the Oil and Gas space, particularly the oil marketing companies, as the positive sentiment stemming from last week continues in the space.

In 6,165 deals, investors exchanged 322,494,757 shares valued at N5.824billion. UBA, Access Corporation, GTCO, Fidelity Bank and Japaul Gold were most traded stocks on the Bourse.

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At the close of trading session on Tuesday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its equities Market Capitalisation – increased by 0.42percent or N126billion, from preceding trading day’s 55,801.32 points and N30.387trillion to 56,038.85points and N30.513trillion.

Etranzact led the league of gainers after its share price rose from N4 to N4.40, up by 40kobo or 10percent.

It was followed by Eterna which increased from N10.15 to N11.15, adding N1 or 9.85percent, and PharmaDeko which rose from N1.89 to N2.07, adding 18kobo or 9.52percent.