Stock market rises further by 0.15%

Nigeria’s equities market moved further in the green zone on Thursday by 0.15percent or N43billion as buy side activities strengthened on the local Bourse.

The market closed north, thanks to Lafarge Africa Plc which led the gainers league after its share price moved up from N28.90 to N31.75, adding N2.85 or 9.86percent, followed by Fidson Healthcare which rose from N10.35 to N11.38, adding N1.03 or 9.95percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and market capitalisation increased from preceding day’s lows of 52,838.45points and N28.485trillion respectively to 52,917.76 points and N28.528trillion.

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This year’s positive return has increased to 23.88 percent. In 7,639 deals, investors exchanged 426,018,444 shares valued at N5.697billion.

Lagos-based Vetiva research analysts said the market saw some course-correction after Wednesday impressive gains as predicted, with profit-taking observed on some of the strong performers this week. In Friday session, they anticipate further gains on fundamentally sound names, “even as other tickers which have enjoyed investors’ patronage in recent sessions shed some points.”