• Tuesday, May 28, 2024
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Stocks rally further by 0.71% as investors buy Oando, Berger Paints, others

Stock market moves further south by 0.43%

Nigeria’s equities market rose on Tuesday by 0.71percent or N264billion, its second gain this week as investors increased their bargain appetite for stocks like Oando Plc, Berger Paints and Etranzact.

The stock market’s key performance indicators – Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased further from preceding trading day’s lows of 67,877.17 points and N37.149 trillion respectively to 68,359.22 points and N37.413trillion.

Ellah Lakes led the gainers after rising from N3.30 to N3.63, up by 33kobo or 10percent. Berger Paints followed after its share price moved from N10.55 to N11.60, up by N1.05 or 9.95percent. Etranzact went up from N7.35 to N8.08, up by 73kobo or 9.93percent.

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Oando rose from N12.10 to N13.30, adding N1.20 or 9.92percent, while Chams moved from preceding day low of N1.21 to N1.33, adding 12kobo or 9.92percent.

The nation’s stock market had opened this week on a positive note. The market’s positive close on Tuesday pushed the return year-to-date (YtD) to 33.38percent. This week, the market has risen by 1.43percent, while this month it is up by 2.72percent.

In 7,659 deals, investors exchanged 676,736,144 shares valued at N5.893billion. Universal Insurance, UBA, Transcorp, Fidelity Bank and Chams were actively traded stocks on Tuesday.