Transcorp Hotels, Beta Glass, others reroute stock market northwards

Nigeria’s stock market on Thursday recorded its first gain this week, thanks to investors who bought shares of Transcorp Hotels Plc, Beta Glass Plc and others seen on the advancers list.

The share price of Transcorp Hotels increased most, from N5.36 to N5.89, up by 53kobo or 9.89 percent, while that of Beta Glass followed, from N57 to N62.55, adding N5.55 or 9.74percent.

At the close of trading session Thursday, the Nigerian Exchange Limited All-Share Index (ASI) and Market Capitalisation increased by 1.05percent or about N300billion, from 52,721.34 points and N28.422trillion respectively to 53,275.49 points and N28.721trillion. The market’s positive return year to date by increased to 24.72 percent.

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By Iheanyi Nwachukwu • May 20, 2022

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.