Nigeria’s equities market failed to sustain previous day’s loss after rising by 0.08 percent or N32billion at the close of trading Tuesday.

Insurance, banking and industrial stocks helped market to reroute north after the negative take off this week.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its market capitalisation increased from preceding day’s lows of 71,008.7 points and N39.050trillion respectively to 71,066.64 points and N39.082trillion. This year’s return increased to 38.66 percent.

Read also: Stock market sees 0.37% rise week ended November 17

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Learn Africa rallied most from N2.80 to N3.08, adding 28kobo or 10 percent. It was followed by Mecure which rose from N6.30 to N6.93, adding 63kobo or 10percent.

Also, NNFM went up from N26.25 to N28.85, adding N2.60 or 9.90percent, while Cadbury increased from N13.80 to N15.15, up by N1.35 or 9.78 percent.

Unity Bank, Universal Insurance, Mutual Benefit, Japaul Gold and Veritas Kapital Assurance were actively traded stocks on Tuesday.

In 6,549 deals, investors exchanged 491,397,660 shares valued at N3.221billion.

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By Iheanyi Nwachukwu • November 22, 2023

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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