Nigeria’s stock market opened this week on a positive note, gaining N185billion, thanks to largely capitalized stock like Dangote Cement Plc, GTBank Plc, Lafarge Africa Plc, Zenith Bank Plc and UBA Plc.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) printed higher by 1.46 percent at the close of trading session on Monday July 27. The stock market’s negative returns this year moderated to -7.67percent.

The NSE ASI increased to 24,783.61 points from preceding trading day’s low of 24,427.73 points, while the value of listed stocks on the Bourse increased to N12.928trillion from N12.743 trillion, up by N185billion.

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In 4,336 deals, investors exchanged 169,998,011 units valued at N2.385billion.  Flour Mills, Lafarge Africa, FBN Holdings, GTBank and UBA were actively traded stocks on the Bourse.

The shares of Dangote Cement Plc gained most after moving from day open low N134.2 to N141.8, up by N7.6 or 5.66percent.  GTBank also went up from N21.65 to N23.3, adding N1.65 or 7.62percent.

Lafarge Africa Plc advanced from N10.95 to N12, adding N1.05 or 9.59percent. Zenith Bank Plc rallied from N15.5 to N15.9, adding 40kobo or 2.58percent; while UBA advanced from N6 to N6.15, up by 15kobo or 2.50percent.

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By Iheanyi Nwachukwu • July 28, 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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