Nigeria’s equities market rallied further into the New Year by 2.04 percent on Wednesday as investors continued to buy stocks ahead of Full Year earnings releases and possible corporate declarations. The market has increased this year by 3.70 percent.

Stocks like Dangote Sugar Refinery, Berger Paints, FCMB and University Press were on demand as investors in 11,629 deals exchanged 927,558,142 shares worth N10.691billion.

At the close of trading on Wednesday, the Nigerian equities market which closed the preceding day at 75,990.88 points and N41.583trillion respectively rose to
77,537.57 points and N42.429trillon.

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Fidelity Bank, FCMB Group, UBA and Access Corporation were actively traded stocks on Wednesday.

University Press rose from N2.40 to N2.64, adding 24kobo or 10 percent. Dangote Sugar Refinery increased from N57.50 to N63.25, up by N5.75 or 10percent.

FCMB went up from N7.50 to N8.25, up by 75kobo or 10 percent. Morison rose from N2.80 to N3.08, adding 28kobo or 10percent. Berger Paints increased from N13 to N14.30, up by N1.30 or 10 percent.

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By Iheanyi Nwachukwu • January 4, 2024

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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