Nigeria’s stocks sustain positive performance

Nigeria’s stock market extended its positive performance by +0.15percent on Wednesday August 26 following significant upward movement in prices of medium-to-large cap stocks. This helped push the market’s month-to-date (MtD) positive returns further high by +2.58 percent; while this week, the market has increased by 0.43 percent.
Stanbic IBTC Holdings led other equities on demand making its share price to rise from day open low of N34.5 to N36.05, adding N1.55 or 4.49percent. Northern Nigeria Flour Mills also advanced from N4.1 to N4.5, adding 40kobo or 9.76percent.

UACN also made the top gainers league after rising from N5.4 to N5.75, up by 35kobo or 6.48percent. Vitafoam share price rallied from N5.15 to N5.44, adding 29kobo or 5.63percent, while Guinness Nigeria moved up from N15.3 to N15.5, up by 20kobo or 1.31percent.

The market could not reverse record gains despite profit taking in stocks like UBA, Cadbury, Africa Prudential and Custodian Investment.

At the close of remote trading session, the Nigerian Stock Exchange (NSE) All Share Index (ASI) and Market Capitalisation increased from 25,291.73 points and N13.194 trillion to 25,330.10 points and N13.214trillion respectively.

Investors gained N20billion while the market’s year-to-date (ytd) negative return decreased to -5.63 percent. In 3,411 deals, investors exchanged 180,732,619 units valued at N1.355billion. Fidelity Bank, UBA, Access Bank, FBN Holdings and Zenith Bank were actively traded stocks.