Nigeria’s stock market recorded its first positive this week, closing high by 0.17percent on Wednesday June 17. Investors booked about N22billion gain.

This happened as some fundamentally sound stocks started seeing renewed interest as investors moved to take advantage of their low prices following recent dip.

At the close of trading session, the Nigerian Stock Exchange (NSE) All Share Index (ASI) increased to 24,972.89 points while the value of listed stocks increased to N13.027trillion from preceding day low of 24,930.88 points and N13.005trillion respectively.

This week, the market has decreased by -0.83 percent; this month it’s down by -1.17 percent; while the negative return year-to-date (YtD) stood at -6.96 percent.

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Nestle Nigeria Plc led the gainers tabled after its share price moved up from N995 to N1094.5, adding N99.5 or 10percent. Flourmill also increased from N19.55 to N20.4, up by 85kobo or 4.35percent.

Cadbury advanced from N7.5 to N8, adding 50kobo or 6.67percent. Access Bank moved up from N6.75 to N6.85, up by 10kobo or 1.48percent and Zenith Bank went up from N16.1 to N16.15, adding 5kobo or 0.31percent.

In 3,564 deals, investors exchanged 265,964,169 units valued at N2.708billion.

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By Iheanyi Nwachukwu • June 18, 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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