Equities market of Africa’s largest economy sustained its record rally on Wednesday, December 23, as investors chose to take further positions in attractive stocks like Airtel Africa Plc, BUA Cement Plc, Nigerian Breweries Plc and others that recorded price increases.

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalisation moved from preceding day low of 37,893.61 points and N19.805 trillion, respectively, to 38,803.74 points and N20.281trillion at the close of the ongoing remote trading session on Wednesday.

The value of listed stocks increased by N476 billion as the market continued to see increased buy activities. The NSE ASI increased by 2.40 percent, pushing the week-to-date (WtD) increase to +5.43 percent while month-to-date (MtD) the market has increased by +10.73 percent. The stock market’s year-to-date (ytd) positive return increased to +44.56 percent.

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In 4,316 deals, stock investors exchanged 1,497,173,779 units valued at N18.748 billion. Access Bank, Flour Mill, BUA Cement and Zenith Bank were actively traded stocks on the Nigerian Stock Exchange (NSE).

Airtel Africa Plc recorded the highest gains on the Bourse after its share price moved from N774.4 to N851.8, up by N77.4 or 9.99 percent.

Likewise, BUA Cement share price increased from N55 to N60, up 5 or 9.09 percent.

Nigerian Breweries also advanced in price from N55 to N56, adding N1 or 1.82 percent. BOC Gas rose from N7.92 to N8.7, up by 78kobo or 9.85 percent while Vitafoam rallied from N7 to N7.5, adding 50kobo or 7.14 percent.

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By Iheanyi Nwachukwu • December 29, 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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