Nigeria’s stock market gained about N235billion on Tuesday December 22 driven by remarkable rally in stocks like Dangote Cement Plc, Eterna Plc, Cadbury Nigeria Plc, UBA Plc and Zenith Bank Plc.

The shares of Dangote Cement have been rising lately following the company’s notice of share buy-back commencing Thursday December 30.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) and Market Capitalisation moved from 37,443.40 points and N19.570trillion respectively to 37,893.61 points and N19.805trillion at the close of ongoing remote trading session.

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The NSE ASI increased by 1.20percent, pushing the week-to-date (WtD) increase to 2.96percent while month-to-date (MtD) the market has increased by 8.14percent. The stock market’s year-to-date (ytd) positive return increased to +41.17percent.

Dangote Cement share price moved up most, from N230.4 to N245, adding N14.6 or 6.34percent. Also, Eterna Plc advanced from N4.1 to N4.51, adding 41kobo or 10percent; Cadbury rose from N8.65 to N9, up by 35kobo or 4.05percent; UBA advanced from N8.2 to N8.4, gaining 20kobo or 2.44percent, while Zenith Bank increased from day open low of N24.3 to N24.5, adding 20kobo or 0.82percent.

In 4,948 deals, investors exchanged 442,220,906 units valued at N10.287billion. Zenith Bank, AXA Mansard, GTBank, Japaul Gold and FBN Holdings were most traded stocks Tuesday on the Nigerian Stock Exchange.

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By Iheanyi Nwachukwu • December 22, 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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