Stocks gain N69bn on investors cherry-picking actions

At the close of trading session on Wednesday, Nigeria’s equities market closed in the positive region, rising by 0.23percent or N69billion amid investors cherry-picking actions, particularly in some of the preceding day’s decliners.

Stocks like Africa Prudential, Tripple G, Axa Mansard, and International Energy Insurance helped the market to close in green. Africa Prudential rallied most, from N6.10 to N6.25, up by 15kobo or 2.46percent.

It was followed by International Energy Insurance which increased from N1.17 to N1.28, up by 11kobo or 9.40percent.

Also, Tripple G rose from N1.05 to N1.15, up by 0.10kobo or 9.52percent, while Axa Mansard increased from N2 to N2.05, adding 5kobo or 2.50percent.

Market sheds N36bn as investors take profit on recent gains

By Iheanyi Nwachukwu • February 9, 2023

Iheanyi Nwachukwu

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.