Nigeria's stock market rises by 0.09%

The nation’s stock market lost N519 billion or 1.82 percent, its largest daily dip so far this month

Nigeria’s stock market rerouted north of Wednesday, rising by about 0.09percent as the Bourse continues to witness sessions of bargain hunting and profit taking activities.

Equity investors gained about N21billion at the close of trading session on Wednesday. The market closed in the green zone as investors raised bets in RedStar which rose most by 7.94 percent, while others like Meyer increased by 7.69percent, Japaul Gold (+5.41 percent), UPDC (+4.35 percent) and Africa Prudential (+4.10 percent).

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In 3,476 deals, equity traders exchanged 226,179,887 shares valued at N2.632 billion. International Breweries, FBN Holdings, GTCO, Unilever and Mutual Benefit were most traded stocks on the NGX.

The Nigerian Exchange Limited (NGX) All-Share Index and Market Capitalisation which stood at preceding day’s lows 42,317.52 points and N22.081trillion respectively increased to 42,357.36 points and N22.102 trillion.
The stock market’s year-to-date (YtD) positive return increased to 5.18percent.

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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