Nigeria equities market recorded about N68billion gain on Tuesday November 12 as investors increased their equity stake in most of the largely capitalised stocks.

After last Monday’s public holiday to mark the 2019 Eid-ul-Maulud, stock trading began Tuesday on the Nigerian Stock Exchange (NSE).

The NSE All Share Index (NSE) which opened the week at 26,314.49 points gained 0.54percent to 26,456.39 points at the sound of the trade closing gong.

Likewise, the value of listed equities increased from N12.810trillion to N12.878trillion, increasing by about N68billion. Cement Company of Northern Nigeria Plc recorded the highest price advance from N17.5 to N19.1 after it added N1.6 or 9.14percent. Dangote Cement Plc followed after its share price moved up from N145.8 to N147.2, adding N1.4     or 0.96percent.

Nigerian Breweries Plc rallied from N46.5 to N47.2, after adding 70kobo or 1.51percent, Access Bank Plc advanced from N9.2 to      N9.55, adding 35kobo or 3.80percent, while UAC of Nigeria Plc moved up from N6.2 to N6.5, adding 30kobo or 4.84percent.

The stock market’s negative return year-to-date (ytd) moderated to -15.83percent.

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Market watchers believe that barring negative price movement in large cap stocks, the market will continue its upward trajectory on Wednesday November 13 as the local bourse continue to experience positive/strong sentiment and renewed buying interest. However, the possibility of profit taking on gains made in recent sessions cannot be ignored.

The volume of stocks traded decreased by 12.52percent from 432.47million to 378.34million, while the total value of stocks traded increased by 28.17percent from N5.57billion to N7.15billion in 4,798 deals.

On the laggards list, Lafarge Africa Plc led the pack after its share price declined from N14.7 to N14.15 losing 55kobo or 3.74percent. FBN Holdings Plc followed from N5.8 to N5.6, losing 20kobo or 3.45percent.

ETI Plc decreased from N7 to N6.9, losing 10kobo or 1.43percent, Ikeja Hotel Plc dropped from 97kobo to 88kobo losing 9kobo or 9.28percent, while FCMB Group Plc stock price moved down from day open level of N1.86 to     N1.8, losing 6kobo or 3.23percent.

 

Iheanyi Nwachukwu

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By BusinessDay • November 12, 2019

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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