Equities market closes slightly higher

Nigeria’s equities market closed slightly higher by 0.02 percent or N6billion on Thursday as investors bought consumer goods and insurance stocks.

Stocks like Northern Nigeria Flour Mills, SCOA, and C & I Leasing were mostly seen on the buy-side of the Nigerian Bourse.

At the close of trading on Thursday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its market capitalisation increased respectively from 71,014.38 points and N39.053trillion to 71,025.16 points and N39.059trillion.

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This year, the market has increased by 38.58 percent. In 6,545 deals, investors on Thursday exchanged 483,847,757 shares worth N4.378billion.

Regency Assurance, Oando, Universal Insurance, Japaul Gold and UBA were most traded stocks on Thursday at the Nigerian Exchange Limited.

C & I Leasing increased most from N4.12 to N4.53, adding 41kobo or 9.95 percent. NNFM rose from N19.80 to N21.75, up by N1.95 or 9.85percent, while SCOA rose from N1.12 to N1.23, adding 11kobo or 9.82percent.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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