The stock market of Africa’s largest economy routed slightly northward on Wednesday as investors bought shares of companies seen priced cheaper than usual.
BUA Cement Plc led on the advancers list, after its share price moved from N50.45 to N52, up by N1.55 or 3.07percent. It was followed by Ardova Plc which increased from N12.80 to N13.75, up by 95kobo or 7.42 percent; and Jaiz Bank Plc which rose from 74kobo to 76kobo, up by 2kobo or 2.70percent.
Read also: Market rout persists as investors brace up ahead of MPC
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated by 0.02percent or N14billion, from preceding day’s lows of 49,161.45 points and N26.517trillion to 49,171.7 points and N26.531trillion. Also, the market’s positive return year-to-date (YtD) increased to +15.11percent.
Investors in 3,981 deals exchanged 101,569,060 shares valued at N1.197billion. GTCO, Zenith Bank, FBN Holdings, Transcorp and Chams were top-5 traded stocks on the Nigerian Exchange.
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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.
