Equities market records four consecutive days of positive closes

As Nigeria’s local currency strengthens further against the US dollar, investors’ interest in naira assets like equities continues to increase.

This is in addition to the FY’24 earnings season that contributes in fueling bargains at the Nigerian Exchange Limited (NGX).

At the local bourse, increased buy activities made the market record four consecutive days of positive closes. The market increased further by 0.10 percent or N66 billion on Thursday

Stocks like Eterna, Cadbury, Fidson and UPDC among others pushed the market higher as investors in 15,450 deals exchanged 537,188,094 shares worth N23.025 billion.

Access Holdings, Sterling, Zenith, FBN Holdings and UPDC were actively traded stocks on Thursday.

Eterna rallied most from N30.35 to N33.35, adding N3 or 9.88 percent. Cadbury rose from N24.30 to N26.70, adding N2.40 or 9.88 percent.

Fidson increased from N17.40 to N19.10, up by N1.70 or 9.77 percent, while UPDC share price grew from N2.15 to N2.36, adding 21 kobo or 9.77 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased from preceding day’s lows of 105,324.89 points and N65.221 trillion respectively to 105,430.15 points and N65.287 trillion.

This year, the market has risen by 2.43 percent, while this month it has increased by 0.89 percent.