• Saturday, July 20, 2024
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Stock market sees first gain this week

Stock market extends rally by 0.53%

Though on a marginal rate, Nigeria’s equities market recorded its first gain this week, rising by 0.03 percent or N6billion on Tuesday.

Thanks to stocks like NAHCO, Africa Prudential and Transcorp which topped the league of advancers on the Nigerian Exchange Limited (NGX).

At the close of trading session on Tuesday, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and its equities market capitalisation increased from preceding day low of 51,120.94 points and N27.846trillion to 51,134.85 points and N27.852trillion.

Read also: Stock market decreases by 2.06% in week ended April 14

NAHCO led others gainers after its share price moved up from N11 to N11.60, adding 60kobo or 5.45 percent. It was followed by that of Africa Prudential which moved up from N5.20 to N5.45, adding 25kobo or 4.81 percent.

In 4,669 deals, investors exchanged 1,819,959,168 shares valued at N5.02billion.

The market’s first positive close this week has pushed its record negative return year-to-date (YtD) to new low of 0.23percent.