Nigeria's stock market rally continues

Nigeria’s stock market rally continues

Market sees first dip after recent rally

Nigeria’s stock market continued its rally on Wednesday, thereby recording three consecutive days of gain this week.

The market rose by 0.12percent at the close of ongoing remote trading session on the Nigerian Exchange Limited (NGX). Thanks to shares of FBN Holdings Plc which rose most from, N9 to N9.70, up 70kobo or 07.78percent.

As investors continue to cherry pick attractive names across sectors, listed equities value rose by about N26billion.

The market’s twin performance indicators –the Nigerian Exchange Limited All Share Index (ASI) and market capitalisation increased further from 40,716.66 points and N21.216trillion to 40,765.2 points and N21.242trillion.

In 5,145 deals, investors exchanged 400,651,808 valued at about N3.479billion.

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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