Nigeria’s stock market recorded its first gain this week, rising by N320billion or 1.25 percent as investors on the Bourse bought shares of Guinness Nigeria Plc, Eterna Plc, Meyer Plc, Japaul Gold Plc and Coronation Insurance Plc.

At the close of trading session on Wednesday April 20, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and market capitalisation rose from preceding day’s lows of 47,545.86 points and N25.632trillion respectively to 48,138.71 points and N25.952trillion.

Guinness Nigeria Plc recorded the highest gain on the Bourse, after its share price moved from N74.80 to N82.25, adding N7.45 or 9.96percent; while Eterna Plc rallied from N5 to N5.50, adding 50kobo or 10percent.

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The shares of Japaul Gold Plc were also on the buy-side making the price to rise from 30kobo to 33kobo, up 3kobo or 10percent. Others are: Meyer Plc which rose from N1.76 to N1.93, up by 17kobo or 9.66percent, while Coronation Insurance Plc increased from day-open low of 42kobo to 46kobo, adding 4kobo or 9.52percent.

The market’s year-to-date (YtD) positive return increased to 12.69percent. In 4,587 deals, equity traders exchanged 349,560,578 units valued at N3.699billion. Universal Insurance, Zenith Bank, Fidelity Bank, UBA and Mutual Benefit were actively traded stocks on the Exchange.

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By Iheanyi Nwachukwu • April 21, 2022

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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