Nigeria’s equities market strengthened its journey into the green zone on Thursday, July 6 by 0.81percent or N270billion as investors positive sentiments persist on the Nigerian Exchange Limited (NGX).

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and Market Capitalisation increased from preceding day’s low of 61,523.57 points and N33.500trillion respectively to 62,019.88 points and N33.770trillion.

Union Bank, Learn Africa, Eterna, Conoil and MRS lead the league of advancers on Thursday. Union Bank share price increased most, from N7.50 to N8.25, up by 75kobo or 10percent.

Learn Africa followed after rising from N3.20 to N3.52, up by 32kobo or 10percent. Eterna also rose from N23.50 to N25.85, up by N2.35 or 10percent.

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Conoil advanced from N93 to N102.30, up by N9.30 or 10percent, while MRS moved from N83 to N91.30, adding N8.30 or 10percent.

At the close of trading, the market’s year-to-date (YtD) positive return increased to 21.01percent.

“Although sentiments still remain positive in the long-term, investors continue to move in and out of their positions, while still taking a cautious stance,” Lagos-based analysts Vetiva Research had said ahead of Thursday trading.

Stocks like FBN Holdings, FCMB Group, Access Corporation, Japaul Gold and Transcorp were actively traded as investors in 9,948 deals exchanged 5,443,829,746 shares worth N95.005billion.

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By Iheanyi Nwachukwu • July 6, 2023

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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