• Thursday, November 07, 2024
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Stock market gains over N160bn in early trade on Wednesday

Nigeria stocks halt 6-day negative trend ahead of US elections

Nigeria’s equities market which has been on the losing path since this week gained about N167billion in early trading on Wednesday.

As at 12.30pm, the market was up by 0.30percent as its benchmark Index and equities value rose to 101,364.39 points and N55.465 trillion from preceding day’s lows of 101,060.67 points and N55.298trillion.

Read also: Stock market falls further by 0.11% in early trading on Tuesday

Market watchers had anticipated the bearish trend seen since this week to continue.

“We anticipate another bearish trading session, as interest in the equity market remains weak largely on the back of rate increase in the fixed income space,” Lagos-based Vetiva analysts had said at the close of trading on Tuesday.

As at 12.30 pm, investors in 4,866 deals exchanged 108,134,288 shares worth N1.956billion.

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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