Airtel, FBN Holdings, others drive stock market’s N980bn gain

Nigeria’s equities market increased by 1.76 percent or about N980billion on Wednesday, rerouting from previous day’s negative close.

The market’s positive close was driven by Airtel Africa share price which increased most by N200 or 10percent, from N2,000 to N2,200.

Also, investors interest in share of FBN Holdings pushed its price from N24.75 to N27.20, up by N2.45 or 9.90percent, followed by that of Morison Industries which rose from N2.75 to N3.02, up by 27kobo or 9.82percent.

Stock market defies inflation report to sustain rally

By Iheanyi Nwachukwu • February 15, 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.