The Nigerian equities market increased further on Thursday by 0.62percent or N174billion, thereby strengthening the positive return year-to-date (YtD) to 1.56percent. Week-to-Date (WtD), the nation’s stock market has increased by 1.61 percent.

Investors on the Nigerian Exchange Limited (NGX) continued to cherry pick attractive counters ahead of the full-year 2022 results. Market watchers anticipate similar positive trading pattern to filter into Friday’s session.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from preceding day low of 51,729.87 points and N28.175trillion respectively to 52,048.85 points and N28.349trillion.

Read also: Stocks gain N154bn on increased buy activities

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Dangote Sugar Refinery rallied most on the Bourse after its share price moved up from N16 to N17.15, adding N1.15 or 7.19percent.

It was followed by International Breweries which rose from day-open low of N4.65 to N5.05, up by 40kobo or 8.60percent; Ellah Lakes which moved up from preceding day low of N3.60 to N3.96, adding 36kobo or 10percent of its day-open price and LASACO which rose from N1 to N
1.10, up by 10kobo or 10percent.

Axa Mansard, GTCO, Chams Royal Exchange and FBN Holdings were top-5 traded stocks on Thursday as investors in 3,462 deals exchanged 211,742,512 shares valued at N7.725billion.

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By Iheanyi Nwachukwu • January 13, 2023

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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