Nigeria equities market sustains gain as Dangote Cement, others rally

The Nigeria equities market opened this week on a positive note, helping to sustain preceding trading day’s gain. The shares of largest cement maker, Dangote Cement Plc led other advancers on the Bourse as eleven (11) companies gained as against 11 losers.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) appreciated by 0.45percent to close at 29,964.79 points as against preceding trading day low of 29,830.70 points.

The value of listed stocks increased from N11.124 trillion to N11.174trillion, implying value gain of about N50billion.

The stock market’s Year-to-Date (YtD) returns currently stands at -4.66percent. In 2,542 deals, stock dealers exchanged 132,408,139 units valued at N1.085billion.

Diamond Bank Plc, Access Bank Plc, Zenith Bank Plc, Transcorp Plc and United Bank for Africa Plc were actively traded stocks on Monday January 14, 2019.

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The share price of Dangote Cement Plc increased most by N3 or 1.69percent, from N177 to N180; followed by Lafarge Africa Plc which gained 25kobo or 2.04percent, from N12.25 to N12.5.

United Capital Plc share price also gained, from N2.83 to N2.98, adding 15kobo or 5.30percent. Diamond Bank Plc shares were on demand as well leading to its share price rallying from N2.02 to N2.09, adding 7kobo or 3.47percent.

Union Bank of Nigeria Plc stock price gained 5kobo from N6 to N6.05, up by 0.83percent. Forte Oil Plc recorded the biggest loss after its share price declined by N1, from N29 to N28, losing 3.45percent.

Guinness Nigeria Plc stock price followed after dipping by N1, from N66 to N65, losing 1.52percent.

NAHCO Plc stock price was down by 29kobo, from N3.5 to N3.21, losing 8.29percent; Linkage Assurance Plc stock price lost 6kobo, from 65kobo to 59kobo, down by 9.23percent; while Zenith Bank Plc lost 5kobo or 0.23percent of its day-open share price, from N21.85 to N21.8.

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.