Equities market of Africa’s biggest economy on Wednesday January 20 halted its record two-day negative closes amid bargain hunting activities across sectors.

Stocks like Lafarge Africa, Ardova, BOC Gas, Northern Nigeria Flour Mills and CAP witnessed increased bargains, which put their prices on a higher trajectory.

Barring any negative event capable of dampening investors’ confidence, analysts expect Wednesday’s positive performance to filter into Thursday’s trading session.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 0.23percent from 41,051.63 points to 41,147.72 points, while the value of listed stocks increased by N50billion, from N21.474trillion to N21.524trillion.

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In 6,296 deals, investors exchanged 649,649,752 units valued at N4.611billion. Mutual Benefit, Transcorp, Sterling Bank, Lafarge Africa and UACN Property Development Company were actively traded stocks.

Lafarge share price rallied most from N24.5 to N26.5, up by N2 or 8.16percent; followed by Ardova which advanced from N18 to N19.75, up by N1.75 or 9.72percent. BOC Gas rose from N13.77 to N15.12, adding N1.35 or 9.80percent.

Northern Nigeria Flour Mills increased from N8 to N8.8, adding 80kobo or 10percent; while CAP moved up from N20 to N20.5, gaining 50kobo or 2.50percent.

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Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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