Nigeria’s equities market strengthened its gaining streak on Thursday by 0.04percent or N12billion as investors bought shares of Champion Breweries Plc, Transcorp, LivingTrust Mortgage Bank, and others.

The market recorded positive close as investors continued to cherry-pick attractive counters in consumer and industrial goods sectors.

Champion Breweries share price moved up most from N4.78 to N5, adding 22kobo or 4.60percent.

Read also: Nigerian Breweries records worst February in 15 years over cash chaos

Related News

It was followed by that of LivingTrust Mortgage Bank which increased from day-open low of N2.85 to N2.97, adding 12kobo or 4.21percent and Transcorp which also increased from N1.27 to N1.38, adding 11kobo or 8.66percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from preceding day’s low of 55,801.14 points and N30.397trillion respectively to 55,822.14 points and N30.409trillion. The market’s year-to-date (YtD) return increased to 8.92percent.

In 3,627 deals, investors exchanged 311,476,310 shares valued at N3.093billion. Transcorp, GTCO, Zenith Bank, Stanbic IBTC Holdings and Sterling Bank were the most actively traded stocks on Thursday.

More from our Markets Column
Read Next
Market up 41.39% year-to-date as stocks gain N2.1trn in one week

Market closes higher by 0.48% in week ended March 10

By Iheanyi Nwachukwu • March 10, 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.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp