Equities gain N138bn as Dangote Sugar, Berger Paints, others reroute market northward

Nigeria’s equities market increased by 0.58percent or N138billion on Tuesday, which helped reroute the market from its previous negative start to new week.

Stocks like Dangote Sugar Refinery Plc, Berger Paints Plc and Skyway Aviation Handling Company Plc were among counters that helped the market’s move northwards which pushed the year-to-date (YtD) positive return higher to +4.54percent.

At the close of trading session on Tuesday January 18, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) increased from preceding day’s 44,399.66 points to 44,655.89 points.

Dangote Sugar moved up most from N17 to N18.25, up by N1.25 or 7.35percent, followed by Skyway Aviation Handling Company which rose from N5.30 to N5.83, adding 53kobo or 10percent and Berger Paints which rose from N7.70 to N8.15, up by 45kobo or 5.84percent.

Also, the value of listed stocks on the Nigerian Exchange Limited increased from preceding day’s N23.921trillion to N24.059trillion. Transcorp, GTCO, Jaiz Bank, ETI and FBN Holdings were most traded stocks on the NGX. In 4,151 deals, investors exchanged 235,233,902 units valued at N1.918billion.

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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