Nigeria’s stock market ended Wednesday July 8 trading session in the green as a result of upward movement in some large cap stocks.
Notably, bargain hunting in stocks like Julius Berger, GTBank, Lafarge Africa, Okomu and Zenith helped redirect the stock market northward.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) closed higher by 0.75 percent to 24,278.07 points as against preceding day low of 24,097.48 points.
Also, the value of listed stocks increased to N12.664trillion from preceding trading day low of N12.570 trillion.
The stock market’s negative return year-to-date (ytd) decreased by -9.55percent.
Investors gained about N94billion at the close of trading session. In 3,523 deals, investors exchanged 232,609,049 units valued at N4.698billion.
Fidelity Bank, MTNN, Lafarge Africa, GTBank and Zenith were actively traded stocks on Wednesday July 8, 2020.
The share price of Julius Berger Nigeria Plc increased most from N15.65 to N17.2, adding N1.55 or 9.90percent; followed by GTBank Plc which increased from N21.05 to N22.5, up by N1.45 or 6.89percent. Larfarge rallied from N10 to N11, adding N1 or 10percent.
Okomu Oil rose from N69.7 to N70.5, up by 80kobo or 1.15percent; while Zenith Bank Plc increased from N16.35 to N16.65, up by 0.3 kobo or 1.83percent.
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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.
