Investors interest in Nigeria’s penny stocks helped reroute the market to close in green zone ahead of the year’s last trading day.

CHI Plc led the gainers league on Thursday, December 30 after its share price moved from preceding day low of 70kobo to 77kobo, up by 7kobo or 10 percent while Mutual Benefit Insurance followed after rising from 31kobo to 34kobo, up by 3kobo or 9.68percent.

Also on the top advancers list include Regency Alliance which rose from 43kobo to 47kobo, up by 4kobo or 9.30percent while Unity Bank increased from 48kobo to 52kobo, up by 4kobo or 8.33 percent. Wapic Insurance moved from 49kobo to 53kobo, up by 4kobo or 8.16percent.

This week, the market has decreased by 1.06 percent while month-to-date (MtD) it has declined by 0.54 percent.

Read also: Nigeria stocks’ gain nears N1trn mark in 2021

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Trading on the local bourse had resumed on a bearish note after the Christmas holidays as downbeat sentiments dominated stock market activities.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) moved from Wednesday’s low of 41,807.10 points to 41,813.27 points at the close of trading session on Thursday, December 30.

The value of listed stocks on the Bourse rose to N21.825trillion as against preceding trading day low of N21.822trillion.

The market increased slightly by 0.01 percent or N3billion on Thursday while its record positive return year-to-date (YtD) increased to 3.83percent.

Jaiz Bank, Access Bank, Sterling Bank, UPDC REIT and NGX Group were most traded stocks on the Nigerian Exchange. In 3,607 deals, equity traders exchanged 359,959,511 units valued at N1.844billion.

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By Iheanyi Nwachukwu • December 31, 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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