Nigeria’s equities market failed to stay on the previous day’s negative lane as investors interest in Aradel Holdings, Stanbic IBTC Holdings and other major gainers pushed the market back into the green zone on Wednesday. The market rose by 0.57 percent or N364billion at the close of trading. The market’s return year-to-date (YtD) is in positive region of +1.58 percent. This week, the market has risen by 0.92 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased from preceding day’s lows of 103,958.75 points and N64.156trillion respectively to 104,549.74 points and N N64.520trillion.

Read also: NGX-ASI down by 0.44% as stocks shed N284bn

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Aradel moved up most, from N540 to N594, adding N54 or 10 percent. Chellaram increased from N4.91 to N5.40, adding 49kobo or 9.98 percent. Stanbic IBTC rose from N65 to N71.45, adding N6.45 or 9.92 percent, while University Press increased from N4.67 to N5.12, up by 45kobo or 9.64 percent.

Universal Insurance, Fidelity Bank, FCMB Group, Japaul Gold and Veritas Kapital were actively traded stocks as investors in 16,256 deals exchanged 421,617,585 shares worth N14.997 billion.

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By Iheanyi Nwachukwu • January 29, 2025

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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