• Thursday, May 30, 2024
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Stock market rises marginally by 0.05%

Stock market drops by 2.71% week-on-week

After consecutive sessions of profit-taking, Nigeria stock market moved slightly higher by 0.05 percent on Thursday.

Investors interest in Transcorp Hotels pushed the market higher. The stock led the league of advancers after its share price increased from preceding trading day’s low of N87.93 to N96.50 to N8.57 to 9.75 percent.

Analysts said the market has seen limited catalysts-trading first quarter (Q1) earnings release that would alter the prevailing negative sentiment as investors continue to lock-in gains.

Read also: Stock market drops by 2.71% week-on-week

At the close of trading on Thursday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated from preceding day’s lows of 98,121.3 points and N55.494trillion to 98,169.3 points and N55.520 trillion.

In 7,417 deals, investors exchanged 297,202,321 shares worth N6.516billion. The stock market’s year-to-date (YtD) return also increased to 31.29 percent.