Nigeria’s equities market furthered its upward movement on Wednesday, June 9 as investors continued to buy attractive counters, thanks to industrial and banking stocks.

Trading on the Nigerian Exchange (NGX) Limited closed with NGX All Share Index (ASI) and Market Capitalisation moving from preceding day’s 38,881.7 points and N20.266trillion respectively to 39,170.95 points and N20.416trillion. All sectoral indices closed in the green zone.

The NGX ASI increased by 0.74 percent while the value of listed stocks increased by N150billion.
The market’s negative return year-to-date (YtD) has decreased to -2.73 percent.

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Cutix Plc led the advancers league after its share price rose from N2.30 to N 2.53, up 23kobo or 10percent. It was followed by that of Okomu Oil Plc which increased from N106.15 to N116.50, up by N10.35 or 9.75percent and Union Bank Plc, which rose from N5.30 to N 5.80, adding 50kobo or 9.43percent.

In 3,217 deals, equity dealers exchanged 181,526,454 units valued at N3.959billion. Zenith Bank, Sterling Bank, GTBank, FBN Holdings and Fidelity Bank were most traded stocks on the NGX Limited.

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By Iheanyi Nwachukwu • June 10, 2021

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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