Stock market sees first gain this week

Nigeria’s equities market expectedly on Thursday recorded its first gain this week amid recoveries in some of the week’s decliners. Thanks to consumer goods, insurance and oil & gas stocks that occupied the buy-side of the bourse.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) closed higher by 0.06percent from preceding 64,625.28 points to 64,663.78 points while equities market capitalisation increased from N35.369trillion.

The market’s year-to-date (YtD) positive return increased to 26.17 percent.

Read also: U.S Fed approves FOMC 5.5% rate hike

Cutix led other advancers after its share price rose from N2.50 to N2.70, up by 20kobo or 8percent. It was followed by John Holt which increased from N1.20 to N1.32, after adding 12kobo or 10percent, and CWG which rose from N3.28 to N3.60, adding 32kobo or 9.76percent.

This week, the market has decreased by 1.01percent.

In 5,176 deals, investors exchanged 320,346,677 shares valued at N3.729billion. Fidelity Bank, Transcorp, UBA, Universal Insurance and FBN Holdings were actively traded stocks.