Dangote Cement, MRS, others reroute stock market northwards

Nigeria’s equities market on Tuesday recorded its first gain this week as investors showed remarkable buy interest in most capitalised stock, Dangote Cement Plc and that of MRS Oil Nigeria Plc.

The market went up by N181billion or 0.66percent at the close of trading. The share price of Dangote Cement increased most by N20.70 or 8.30percent, from N249.30 to N270, followed by MRS which moved up by N1.45 or 9.80percent, from N14.80 to N16.25.

Also, NAHCO made the league of top advancers, after rising 60kobo or 7.69percent, from N7.80 to N8.40. Livestock Feeds increased from N1.20 to N1.32, adding 12kobo or 10percent.

The market’s performance indicators – the All-Share Index and Market Capitalisation – increased to 51,091.75 points and N27.544trillion respectively, from preceding day’s 50,756.74 points and N27.363trillion. The market’s positive return year-to-date (ytd) increased to 19.61percent.

Transcorp, UBA, GTCO, Zenith Bank and FBN Holdings were most traded stocks on the Nigerian Exchange. In 4,398 deals, investors exchanged 166,969,136 units valued at N2.739billion.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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