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Nigeria’s stock market recorded mild gain of 0.07 percent or N8billion in value terms on Wednesday May 27 being the first trading session on the Bourse after the public holidays.
“Like earlier noted, the recovery in share prices is driven by: rebalancing in the oil market; increasing indications that governments around the world will reopen their economies regardless of the anxiety around Covid-19; cheap market valuation of high quality stocks; sustained dividend declaration by corporates – translating into attractive dividend yield amid poor rates on T-bills; and sizable market liquidity”, United Capital research analysts said in their recent note to investors.
The Nigerian Stock Exchange (NSE) All Share Index  (ASI) rose to 25,221.23 points on Wednesday from preceding trading day low of 25,204.75 points while the value of listed stocks increased  from N13.136 trillion to N13.144 trillion.
Nigerian Breweries plc helped the northwards trajectory after its share price moved from N39.5 to N43.45, adding N3.95 or 10percent.
Also, Dangote Cement Plc advanced from N134 to N137.3, adding N3.3 or 2.46percent.
“We expect the market to extend its upward trend (though at a slower rate) upon resumption from the holiday”, Vetiva Research analysts had said.
FBN Holdings, Zenith Bank, GTBank, and UBA were actively traded stocks on Wednesday.
In 7,759 deals, investors exchanged 581,606,575 units valued at N5.590billion.
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By Iheanyi Nwachukwu • May 28, 2020

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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