Stock investors gain N577bn

Nigeria’s equities investors who bought shares of Okomu Oil Palm, MTNN, Oando, Unilever and Vitafoam on Thursday made the market record its highest daily gain since the beginning of August.

Increased buy-side activities on the Nigerian Exchange Limited (NGX) pushed the market’s benchmark performance indicator higher by 1.03 percent at the close of trading on Thursday. Investors booked about N577 billion gain at the close of trading on Thursday.

Stocks like NEM Insurance, Access Holdings, UBA, GTCO and Abbey Mortgage Bank were actively traded on the Lagos Bourse.

Vitafoam led the league of advanced on Thursday after its share price rose from N17.50 to N19.25, adding N1.75 or 10 percent. Unilever followed after rising from N17 to N18.70, up by N1.70 or 10 percent.

MTNN also moved from N180 to N198, up by N18 or 10 percent. Okomu Oil Palm increased from N321.20 to N353.30, adding N32.10 or 9.99 percent while Oando moved from a low of N33.60 to N36.95, adding N3.35 or 9.97percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from preceding day’s lows of 97,098.98 points and N55.130 trillion to 98,116.27 points and N55.707 trillion.

In 9,059 deals, investors exchanged 791,781,659 shares worth N15.126 billion. The market’s return year-to-date (YtD) has also increased to 31.22 percent.