Stock market records first post-protest gain

Nigeria’s equities market on Wednesday recorded its first gain this week following the bear reign during the peak of now muted hunger protest.

More investors bought shares of Oando, United Capital, IMG, Red Star Express, and RT Briscoe. Twenty-seven stocks gained while 22 stocks recorded price decline.

The market rose by 0.20 percent at the close of trading while investors gained N97billion.

Oando gained N3.05 or 9.98 percent, from N30.55 to N33.60. United Capital gained N1.45 or 9.90 percent, from N14.65 to N16.10. IMG rose by N1.55 or 9.87 percent, from N15.70 to N17.25.

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Red Star Express increased by 38kobo or 10 percent, from N3.80 to N4.18, while RT Briscoe moved up by 10kobo or 9.90 percent, from N1.01 to N1.11.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from preceding day’s lows of 96,928.52 points and N55.033trillion respectively to 97,098.98 points and N55.130trillion.

The market’s return year-to-date (YtD) has increased to 29.88 percent. In 9,744 deals, investors exchanged 636.5million shares worth N12.76billion.

Access Holdings, United Capital, GTCO, Veritas Kapital and UBA were actively traded stocks.

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.