Nigeria’s stock market opened this week on a positive note, thanks to investors who bought Ardova Plc, Presco Plc, Flour Mills Plc, Berger Paints, Okomu Oil Palm Plc and other stocks that contributed to 0.08percent increase in the NSE All Share Index.

Twenty-eight (28) stocks gained as against 24 losers. Ardova Plc, one of analysts’ stock picks for 2021 led the market’s top gainers after its share price moved from N16.35 to N17.95, up by N1.6 or 9.79percent. Presco Plc advanced from N71 to N72, adding N1 or 1.41percent.

Amidst record significant decline in the market last week, analysts expect a recovery this week as current price dip in the Industrial goods sector drives some buying interest.

Read Also: These stocks steered NSE to the red zone in first trading week

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Also on the gainers table is Flour Mills Plc which moved from N26.7 to N27.45, up 75kobo or 2.81percent. Berger Paints rallied from N7.35 to N8.05, up by 70kobo or 9.52percent, while Okomu Oil Palm Plc rose from N92.5 to N93, up 50kobo or 0.54percent.

Though, the market’s year-to-date (Ytd) return remains negative at 0.30percent. The Nigerian Stock Exchange (NSE) ASI moved from 40,120.22 points to 40,150.78 points, while value of listed stocks moved higher by N16billion from N20.978 trillion to N20.994trillion.

In 5,338 deals, investors exchanged 335,699,532 units valued at N2.489billion. Mutual Benefit, AXA Mansard, Lafarge Africa, Fidelity Bank and Zenith Bank were actively traded stocks.

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By Iheanyi Nwachukwu • January 11, 2021

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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