• Friday, March 29, 2024
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BusinessDay

Stocks gain N69bn on investors cherry-picking actions

Market up 41.39% year-to-date as stocks gain N2.1trn in one week

At the close of trading session on Wednesday, Nigeria’s equities market closed in the positive region, rising by 0.23percent or N69billion amid investors cherry-picking actions, particularly in some of the preceding day’s decliners.

Stocks like Africa Prudential, Tripple G, Axa Mansard, and International Energy Insurance helped the market to close in green. Africa Prudential rallied most, from N6.10 to N6.25, up by 15kobo or 2.46percent.

It was followed by International Energy Insurance which increased from N1.17 to N1.28, up by 11kobo or 9.40percent.

Also, Tripple G rose from N1.05 to N1.15, up by 0.10kobo or 9.52percent, while Axa Mansard increased from N2 to N2.05, adding 5kobo or 2.50percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from preceding day’s low of 54,299.76 points and N29.575trillion respectively to 54,427.05 points and N29.644trillion.

Read also: UACN, FCMB, others cause market to see first dip this week

The stock market’s year-to-date (YtD) return increased to 6.20percent.

Universal Insurance, Transcorp, GTCO, Sterling Bank and UBA were top-5 traded stocks on the Nigerian Exchange Limited. In 2,974 deals, investors exchanged 151,583,263 shares valued at N1.810 billion.