Markets

Nigerian equity market records marginal gain

The Nigerian Stock Exchange reversed the previous day’s loss, recording a marginal gain of 0.02%, lifted by investors’ interest in MTNN, Nestle and Stanic IBTC.

The All-Share Index (ASI) added 7.12 absolute points, representing 0.02%, to close at 38,774.03 points, while the Market Capitalization gained N3.87 billion to close at ₦20.283 trillion and the Year-to-Date return moderated to -3.72%.

The volume of stocks traded increased by 58.71% from 224.594 million to 356.461 million, while the total value of stock traded increased by 95.63% from ₦2.143 billion to ₦4.193 billion in 6,130 deals.

The Financial Services sector led the activity chart with 245.175 million shares exchanged for ₦2.656 billion. Conglomerates came next with 45.189 million shares traded for ₦0.152 billion, Oil And Gas, ICT, Consumer Goods sectors followed in that order on the activity chart.

Zenith Bank, Access, Transcorp, Guaranty and Mutual Benefit were the most active stocks by volume, while Jaiz Bank, Initsplc, Royalex, Japaulgold and Chiplc emerged as the highest price gainers on the chart, while Sterlnbank, Pharmdeko, Prestige, Ardova and Livestock topped the losers’ chart.

Felix Oloyede

Felix Oloyede is a Mass Communication graduate with 19 years experience in journalism. He has worked with TheWeek Magazine; Mirror Newspapers; West Africa BusinessNews and BusinessHallmark Newspaper. Oloyede has covered different news beats ranging from crime; arts; politics; commerce and industries to finance and economy. He is an alumnus of Bloomberg Media Initiative Africa. He has also attended different trainings on Media Communication at the Lagos Business School. He is an alumnus of Bloomberg Media Initiative Africa. He has also attended different trainings on Media Communication at the Lagos Business School.

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