…rises by 1.63% on renewed bargain

Nigeria stock market reversed previous days losses after starting the new month of February on a positive note.

The market rose by 1.63 percent as investors bought shares of NASCON, GTCO, Caverton Offshore Support Group and Chams.

NASCON share price went up from N61.60 to N67.75, after adding N6.15 or 9.98 percent. Also, GTCO increased from preceding day’s low of N37 to N40.70, up by N3.70 or 10 percent.

Caverton Offshore Support Group rose from N1.70 to N1.87, up by 17kobo or 10 percent, while Chams share price increased from preceding trading day’s low of N2.40 to N2.64, up by 24kobo or 10 percent.

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The year-to-date (YtD) return stood higher at 37.48 percent after the market’s positive close on Thursday.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from preceding trading day’s lows of 101,154.45 points and N55.357trillion respectively to 102,802.25 and N56.259trillion.

In 12,851 deals, investors exchanged 861,005,481 shares worth N12.155billion. Stocks like Universal Insurance, Transcorp, Zenith Bank, UBA and Veritas Kapital Assurance were actively traded on Thursday.

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By Iheanyi Nwachukwu • February 2, 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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