• Sunday, April 14, 2024
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UACN, GSK, other stocks push market higher by 0.35%

Stocks shed over N860bn as rate hike effect lingers

Nigeria’s stock market furthered its northward movement on Tuesday by 0.35percent or N99billion as investors showed remarkable buy interest in stocks like UACN, GSK, Global Spectrum Energy Services, Japaul Gold and Jaiz Bank. The market’s positive return year-to-date (ytd) increased to 24.71percent

UACN share price rose most on Tuesday, from day-open low of N11 to N11.50, up by 50kobo or 4.55percent. GSK also increased, from N6.85 to N7.20, up 35kobo or 5.11percent. Global Spectrum Energy Services also moved up from N2.50 to N2.75, adding 25kobo or 10percent.

Read also: Stocks that made some investors billionaires in five months

Also, Japaul Gold increased from 30kobo to 32, up by 2kobo or 6.67percent, while Jaiz Bank share price rose from 88kobo to 95kobo, adding 7kobo or 7.95percent.

At the close of trading session, the market’s performance indicators – the Nigerian Stock Exchange (NGX) All Share Index (ASI) and Market Capitalisation increased from preceding day’s lows of 53,086.46 points and N28.619trillion respectively to 53,270.88 points and N28.718trillion.

Transcorp, UBA, Chams, NGX and Fidelity Bank were most traded stocks on Tuesday on the Nigerian Bourse. In 4,232 deals, investors exchanged 234,624,096 shares valued at N2.745billion.