Investors in Nigeria’s stock market booked about N104billion gain at the close of trading session on Thursday July 16, 2020.

The northward movement on Thursday resulted from investors’ increased bet in value counters like Presco, Cadbury, MTNN, Zenith Bank, GTBank and UBA.

The market looks good to close the week in green if it sustains gains on Friday July 17 as it has already increased by +0.10 percent week-to-date (WtD), but this month it has decreased by -0.61 percent. The year-to-date (ytd) negative return decreased to -9.36 percent.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by +0.83 percent to 24,330.06 points at the close of trading as against preceding trading day low of 24,130. 26points.

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The value of listed stocks increased from preceding trading day low of N12.587trillion to N12.691trillion.

Presco share price rallied by 9.28percent to N49.45, Cadbury rose by 7.41percent to N7.25, GTBank increased by 2.33 percent to N22, MTNN increased by 2.61 percent to N118, UBA rallied by 2.48percent to N6.20, while Zenith Bank advanced by 1.29percent to N15.75.

All NSE sectoral indices closed in the green except that of NSE Consumer Goods (-0.46percent) and NSE Oil & Gas (-0.27percent).

The NSE-30 index increased by +0.69percent, NSE Banking index (+1.01 percent), NSE Insurance index (+0.08 percent), while NSE Pension index increased by +0.70 percent. Meanwhile, the NSE Industrial Index remained unchanged.

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By Hope Moses-Ashike • July 16, 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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