Nigeria’s equities market on Wednesday booked its first gain since this week, rising by about N105billion or 0.39percent.

The market recorded bargain hunting activity across sectors except for insurance. Topmost on the list of advancers that caused the Nigerian Bourse positive close are stocks like Guinness Nigeria Plc which increased most, from N80 to N87.90, up by N7.90 or 9.88percent.

Also, NGX Group Plc followed after its share price went up from N21 to N22.35, up N1.35 or 6.43percent.

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In the same vein, Caverton Offshore Support Group rose from N1.04 to N1.14, adding 10kobo or 9.62percent; while Transcorp Plc joined the top-5 advancers after its share price moved from N1.04 to N1.13, adding 9kobo or 8.65percent.

Lasaco Plc was also among the top gainers after its share price rose from 98kobo to N1.03, adding 5kobo or 5.10percent.

The market’s All-Share Index (ASI) and capitalisation increased from preceding trading day’s 49,642.69 points and N26.775trillion respectively to 49,836.51 points and N26.880trillion. The stock market’s year-to-date (YtD) positive return moved up to 16.67percent.

Sterling Bank Plc, Access Holdings Plc, UBA Plc, FBN Holdings Plc and Fidelity Bank Plc were top-5 traded stocks on Wednesday. In 3,725 deals, investors exchanged 367,340,604 shares valued at N3.237billion.

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By Iheanyi Nwachukwu • September 1, 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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