Fundamentally sound stocks seen enjoying positive patronage on Nigerian Bourse

Thursday April 30 was indeed another day of positive returns to equity buyers as trading on Nigeria’s Bourse recorded increased patronage in favour of fundamentally sound stocks.

The stock market increased by 0.67 percent at the close of trading session. Week-to-date, the market has yielded positive return of 2.45 percent. The 8.08 percent gain seen only in April helped to moderate the record negative return year to date to -14. 24 percent.

Again, investors raised bets in shares of MTNN Plc which increased by 4.28percent to N112.
Ardova Plc also increased by 10percent to N11.55kobo. Lafarge Africa Plc gained 2.61percent to N11.8kobo, while Access Bank Plc was up by 3.94percent to N6.6kobo.

On the decliners list, Nigerian Breweries Plc led the pack after its share price moved from day open high of N31.05 to N30, losing N1.05 or 3.38percent.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased to 23,021.01points as against preceding trading day low of 22,868.40 points, while the value of listed stocks increased by N80billion, from N11.917trillion to N11.997trillion.

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By Iheanyi Nwachukwu • April 30, 2020

Iheanyi Nwachukwu

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.