After consecutive sessions of profit-taking, Nigeria stock market moved slightly higher by 0.05 percent on Thursday.
Investors interest in Transcorp Hotels pushed the market higher. The stock led the league of advancers after its share price increased from preceding trading day’s low of N87.93 to N96.50 to N8.57 to 9.75 percent.
Analysts said the market has seen limited catalysts-trading first quarter (Q1) earnings release that would alter the prevailing negative sentiment as investors continue to lock-in gains.
Read also: Stock market drops by 2.71% week-on-week
At the close of trading on Thursday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated from preceding day’s lows of 98,121.3 points and N55.494trillion to 98,169.3 points and N55.520 trillion.
In 7,417 deals, investors exchanged 297,202,321 shares worth N6.516billion. The stock market’s year-to-date (YtD) return also increased to 31.29 percent.
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Iheanyi Nwachukwu
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.
