Nigeria’s equities market on Thursday recorded its first gain this week due to improved buy activities in stocks like Ardova Plc, Union Bank Plc and E-Tranzact Plc.

The rally by 0.11 percent pushed higher the market’s positive return year-to-date (YtD) to 16.24percent. The value of listed stocks on the Nigerian Exchange Limited (NGX) rose by N9billion at the close of trading session on Thursday.

Ardova Plc led the gainers league after its share price moved up from N12.30 to N13.40, adding N1.10 or 8.94percent.

Read also: Naira maintains steady fall at official, parallel markets

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It was followed by that of Union Bank Plc which increased from day open low N5.60 to N6, up by 40kobo or 7.14percent; and E-tranzact Plc which rose from N2.65 to N2.91, adding 26kobo or 9.81percent.

Vitafoam led decliners after its share price dropped from a high of N23.60 to N21.25, losing N2.35 or 9.96 percent.

Transcorp, Fidelity Bank, Sterling Bank, FCMB Group and UBA were top-5 traded stocks on the Bourse as investors in 3,541 deals exchanged 161,882,175 shares valued at N1.626billion.

The stock market’s All-Share Index (ASI) and capitalisation increased from preceding day’s lows of 49,635.76 points and N26.772trillion respectively to 49,652.25 points and N26.781trillion.

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By Iheanyi Nwachukwu • September 9, 2022

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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