• Sunday, July 14, 2024
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Stock market’s northward movement strengthens by 0.99%

Premium stocks see major sell-offs as investors buy MPC outcome

Buy-side activities at the Nigerian Bourse increased further on Wednesday as more investors decided to take positions in value stocks.

Investors gained about N217billion at the close of trading session which saw 649,766,721 shares worth N7.203billion exchanged in 3,757 deals.

Dangote Sugar Refinery Plc and Honeywell Flour Mills stocks advanced most on the Bourse, while Cutix led the laggards, dipping from N2.89 to N2.61 – it lost 28kobo or 9.69percent of its day-open value.

While Dangote Sugar Refinery moved from a low of N15 to N16, up by N1 or 6.67percent, Honeywell rallied from N3.38 to N3.60, up by 22kobo or 6.51percent.

Read also: Stocks lose over N590bn in week ended Dec. 3

As the market strengthened further by 0.99 percent, the Nigerian Exchange Limited (NGX) All Share Index (ASI) increased from preceding day’s lows of 42,018.92 points to 42, 435.16 points, while Market Capitalisation rose from N21.925trillion to N N22.142trillion.

Market’s year-to-date (YtD) positive return stood higher at +5.37percent. The market has advanced by 0.94percent this month. FBN Holdings, Sterling Bank, GTCO, UBA and Access Bank were most traded stocks on the NGX.