Equities market sees first gain this week

Investors in Nigeria’s equities market on Thursday leveraged opportunity in the market’s recent dip and bought value stocks which helped its first positive close this week.

The market went up by 0.16percent or N45billion at the close of trading session on the Nigerian Exchange Limited (NGX).

Stocks like Ardova, NEM Insurance, CWG and Mutual Benefits Assurance helped push the market higher.

Ardova rose most, from N18.30 to N19.85, adding N1.55 or 8.47percent. It was followed by that NEM Insurance which increased from day open low of N4.15 to N4.55, adding 40kobo or 9.64percent.

Stock market rises by 0.12% in week ended May 5

By Iheanyi Nwachukwu • May 5, 2023

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.