As Nigeria’s local currency strengthens further against the US dollar, investors interest in naira assets like equities continues to increase.

This is in addition to the FY’24 earnings season that contributes in fueling bargains at the Nigerian Exchange Limited (NGX).

At the local bourse, increased buy activities made the market to record four consecutive days of positive closes. The market increased further by 0.10 percent or N66billion on Thursday.

Read also: These stocks made NGX to gain N1.95trn in January  

Stocks like Eterna, Cadbury, Fidson and UPDC among others pushed the market higher as investors in 15,450 deals exchanged 537,188,094 shares worth N23.025 billion.

Access Holdings, Sterling, Zenith, FBN Holdings and UPDC were actively traded stocks on Thursday.

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Eterna rallied most from N30.35 to N33.35, adding N3 or 9.88 percent. Cadbury rose from N24.30 to N26.70, adding N2.40 or 9.88 percent.

Fidson increased from N17.40 to N19.10, up by N1.70 or 9.77 percent, while UPDC share price grew from N2.15 to N2.36, adding 21 kobo or 9.77 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased from preceding day’s lows of 105,324.89 points and N65.221 trillion respectively to 105,430.15 points and N65.287trillion.

Read also: FBN Holdings, Eterna, Cadbury, others push NGX-ASI higher by 0.51%

This year, the market has risen by 2.43 percent, while this month it has increased by 0.89 percent.

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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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