The Nigerian stock market opened this week on a positive note, driven by increased demand for stocks like Nestle Nigeria Plc, Dangote Flour mills Plc, C&I Leasing Plc, Vita foam Nigeria Plc, and that of GTBank Plc.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) gained 0.11percent on Monday July 29, 2019, which helped moderate the record negative month-to-date (MtD) return to -6.73percent and the negative year-to-date (ytd) returns to -11.07percent.

The NSE All Share Index closed at 27,950.36 points against preceding trading day low of 27,918.59 points, while the value of listed equities at N13.621trillion represents N15billion increase as against N13.606 trillion recorded last Friday July 26.

In 3,056 deals, equity traders exchanged 93,112,415 units valued at N1.108billion. Zenith Bank Plc, Transcorp Plc, LASACO Plc, GTBank Plc and Access Bank Plc were actively traded stocks on the Nigerian Bourse.

The share price of Nestle increased by N10 or 0.77percent, from N1300     to N1310, followed by that of Dangote Flourmills which increased by N1.65 or 9.19percent, from N17.95 to N19.6.

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Also, C&I Leasing share price increased from N5   to N5.5, adding 50kobo or 10percent; Vitafoam Plc rose from N3.72 to N4.09, adding 37kobo or 9.95percent; while GTBank Plc moved up from N28.45 to N28.7, adding 25kobo or 0.88percent.

On the laggards table, Total led others after its share price declined from    N127.5 to N114.8, losing N12.7 or 9.96percent; ETI followed from N8.45 to N8, down by 45kobo or 5.33percent; Access Bank Plc lost 15kobo or 2.29percent, from N6.55 to N6.4.

 

Iheanyi Nwachukwu

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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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