Julius Berger, ETI, NEM Insurance, others push stock market higher

Nigeria’s equities market furthered its movement northward by 0.47 percent as investors bought shares of construction giant Julius Berger, Ecobank Transnational Incorporated (ETI), NEM Insurance and other gainers that occupied the league of top advancers.

Elevated demand on the Nigerian Bourse pushed stocks value higher by N273 billion at the close of trading on Wednesday.

The stock market has risen this year by 39.10 percent while also up by 4.03 percent this month. The market has increased by 2.64 percent week-to-date (WtD) following Wednesday’s positive close.

Julius Berger’s share price moved from N61 to N67.10, gaining N6.10 or 10percent. ETI increased from N20 to N22, adding N2 or 10percent. NEM rose from N6.05 to N6.65, adding 60kobo or 9.92percent.

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By Iheanyi Nwachukwu • March 13, 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.