Stock market sees first gain this week

Though on a marginal rate, Nigeria’s equities market recorded its first gain this week, rising by 0.03 percent or N6billion on Tuesday.

Thanks to stocks like NAHCO, Africa Prudential and Transcorp which topped the league of advancers on the Nigerian Exchange Limited (NGX).

At the close of trading session on Tuesday, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and its equities market capitalisation increased from preceding day low of 51,120.94 points and N27.846trillion to 51,134.85 points and N27.852trillion.

Related News

NAHCO led others gainers after its share price moved up from N11 to N11.60, adding 60kobo or 5.45 percent. It was followed by that of Africa Prudential which moved up from N5.20 to N5.45, adding 25kobo or 4.81 percent.

In 4,669 deals, investors exchanged 1,819,959,168 shares valued at N5.02billion.

The market’s first positive close this week has pushed its record negative return year-to-date (YtD) to new low of 0.23percent.

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).

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp