Equities market up 0.47%, as interim dividend announcement stokes buy-side action

Nigeria’s equities market failed to stay in the negative territory after rising by 0.47 percent or N263 billion on Thursday.

This happens as corporate announcements like interim dividend and bonus shares are strengthening further buy-side action by investors.

Expectedly, shares of United Capital Plc which recently proposed 90 kobo interim dividend and bonus of 2 new shares for 1 rose most on Thursday, from N36.30 to N39.90, up by N3.60 or 9.92percent.

Others on the top gainers list include Oando which moved from N16.90 to N18.55, adding N1.65 or 9.76percent and Africa Prudential which increased from N8.90 to N9.75, adding 85 kobo or 9.55percent.

Also, Learn Africa share price moved from N3.52 to N3.85, adding 33 kobo or 9.38percent, while ABC Transport increased from 77 kobo to 84 kobo, adding 7 kobo or 9.09 percent.

At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) and equities Market Capitalisation increased from preceding day’s lows of 100,032.32 points and N56.645 trillion respectively to 100,503.21 points and N56.908 trillion.

In 9,013 deals, investors exchanged 392,795,396 shares valued at N8.333 billion. GTCO, Veritas Kapital Assurance, FCMB Group, UBA and Cutix were actively traded stocks.