In the absence major decline in the heavyweights, Nigeria’s equities market saw a slight recovery on Wednesday, January 11.

Thanks to companies like Champion Breweries Plc and Thomas Wyatt Nigeria Plc which topped the league of advancers.

Champion Breweries rose from day open low of N4.34 to N4.75, up by 41kobo or 9.45percent, followed by Thomas Wyatt which increased from N1.16 to N1.27, up by 11kobo or 9.48percent. Chellaram led the laggards after its share price moved down from the preceding day high of N1.82 to N1.64, up by 18kobo or 9.89 percent.

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The market increased by 0.55 percent or N154 billion, thereby strengthening the positive return year-to-date (YtD) to 0.93 percent. Week-to-Date (WtD), the nation’s stock market has increased by 0.99 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from the preceding day low of 51,446.6 points and N28.021 trillion respectively to 51,729.87 points and N28.175 trillion.

FBN Holdings, BUA Cement, GTCO, Access Corporation and Transcorp were the most actively traded stocks on the Nigerian Exchange Limited as investors in 3,679 deals exchanged 281,944,800 shares valued at N8.158 billion.

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By Iheanyi Nwachukwu • January 12, 2023

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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