Remarkable gain recorded by Geregu Power Plc and other stocks helped push the market to positive close, its first since the announcement of Bola Ahmed Tinubu as Nigeria’s President-elect.

Geregu Power led the gainers league after its share price moved up from N298.10 to N325, adding N26.90 or 9.02percent.

It was followed by Dangote Sugar Refinery Plc which moved up from preceding day low of 17.60 to N19.35, adding N1.75 or 9.94percent; and Nascon which rose by N1, from N11.20 to N12.20, up by 8.93percent.

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As at close of Thursday’s trading on the Nigerian Exchange Limited (NGX), the stock market was up by 0.29percent or N88billion.

The market’s benchmark index reached new high of 55,670.24points while equities market value rose to N30.326trillion as against preceding day’s low of 55,508.61points and N30.238trillion respectively. The market’s year-to-date (YtD) positive return also increased to 8.62percent.

Transcorp, Access Corporation, UACN, GTCO and Zenith Bank were top-5 traded stocks on Thursday. In 4,385 deals, investors exchanged 206,110,250 shares valued at N3.259billion.

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By Iheanyi Nwachukwu • March 2, 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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