Stock market sustains rally by 0.44%

Nigeria’s equities market furthered its upward movement on Wednesday by 0.44 percent as investors continued their hunt for value stocks that are currently priced low.

For the second time this week, stocks like Dangote Sugar Refinery and Nascon helped push the market further high.

Nascon increased from preceding trading day’s N37.25 to N40.85, up by N3.60 or 9.66 percent. It was followed by FCMB Group which rose from N6.75 to N7.40, adding 65 kobo or 9.63 percent.

Likewise, International Breweries rose from N3.65 to N4, adding 35kobo or 9.59 percent, while Dangote Sugar Refinery increased from N42.90 to N47, adding N4.10 or 9.56 percent.

Sterling Holdings’ three-month profit rises to N7.5bn

By Chinwe Michael • May 30, 2024

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.