Nigeria’s equities market moved further north on Wednesday September 15, strengthening its break from previous records of consecutive negatives. The stock market may continue this positive pattern on Thursday as investors await the outcome of the MPC meeting this week.

At the close of trading session on Wednesday, the nation’s stock market’s year-to-date (YtD) negative returns stood lower at -3.23percent.

The Nigerian Exchange Limited (NGX) All Share Index (ASI) and Market Capitalisation increased from 38,920.5 points and N20.278trillion respectively recorded the preceding trading day to 38,968.34 points and N20.303trillion.

Read also: Nigeria equities market decreases further as investors’ sentiment remains low

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The NGX ASI increased by 0.12percent while the value of listed stocks on the Bourse rose by N25billion. The positive close helped to reduce the market’s record loss month-to-date (MtD) to -0.64percent.

UPDC gained most, after its share price increased from day-open low of N1.66 to N1.82, up by 16kobo or 9.64percent, while Transcorp Hotel decreased most, from N5 to N4.50, down by 50kobo or 10percent.

Shares of Universal Insurance, Zenith Bank, United Capital, Transcorp, and Access Bank were actively traded on the Bourse. In 3,079 deals, investors exchanged 141,407,914 units valued at N2.973billion.

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By Iheanyi Nwachukwu • September 16, 2021

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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