Market closes in green as investors buy penny stocks

Nigeria’s equities market on Thursday failed to stay on the preceding day’s loss path, rising by 0.27 percent or N94billion at the close of trading.

Investors interest in penny stocks helped the market to close in green. For instance, stocks like Eunisell Interlinked, University Press, Academy Press, Chellaram, and Ikeja Hotel were topmost on the advancers list.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from preceding day’s lows of 63,757.23 points and N34.716trillion to 63,930.72 points and N34.810trillion.

Investors gain N1.3trn as banking stocks drive 3.89% rally

By Iheanyi Nwachukwu • July 21, 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.