Market gains N12bn as Champion Breweries, Transcorp, others rally

Nigeria’s equities market strengthened its gaining streak on Thursday by 0.04percent or N12billion as investors bought shares of Champion Breweries Plc, Transcorp, LivingTrust Mortgage Bank, and others.

The market recorded positive close as investors continued to cherry-pick attractive counters in consumer and industrial goods sectors.

Champion Breweries share price moved up most from N4.78 to N5, adding 22kobo or 4.60percent.

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It was followed by that of LivingTrust Mortgage Bank which increased from day-open low of N2.85 to N2.97, adding 12kobo or 4.21percent and Transcorp which also increased from N1.27 to N1.38, adding 11kobo or 8.66percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from preceding day’s low of 55,801.14 points and N30.397trillion respectively to 55,822.14 points and N30.409trillion. The market’s year-to-date (YtD) return increased to 8.92percent.

In 3,627 deals, investors exchanged 311,476,310 shares valued at N3.093billion. Transcorp, GTCO, Zenith Bank, Stanbic IBTC Holdings and Sterling Bank were the most actively traded stocks on Thursday.

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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