Nigeria’s stock market opened the new trading week in green (+0.03percent) as investors gained N3billion amid raised wagers on consumer goods stocks –led by Guinness Nigeria (+1.32percent) and International Breweries (+4.17percent).

This month, the market has increased by +2.17 percent, while this year it has decreased by -6. 01percent.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) and Market Capitalisation which opened for trading on August 24 at 25,221.87 points and N13.158 trillion increased to 25,229.12 points and N13.161trillion.

At the close of remote trading session on the Nigerian Stock Exchange, Unilever Nigeria shares increased most from N13.95 to N15, after adding N1.05 or 7.53percent.

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It was followed by Guinness Nigeria which rose from N15.2 to N15.4, adding 20kobo or 1.32percent. PZ Cussons Nigeria also rallied from N3.85 to N4, up by 15kobo or 3.90percent.

International Breweries also went up from N3.6 per share to N3.75, adding 15kobo or 4.17percent; while University Press Plc increased from N1.24 to N1.36, adding 12kobo or 9.68percent.

Presco recorded the highest dip, from N51 to N49, down by N2 or 3.92percent; while Lafarge Africa share price decreased from N11.7 to N11.5, losing 20kobo or 1.71percent.

In 3,737 deals, investors exchanged 251,188,123 units valued at N2.360billion. Transcorp, Zenith Bank, GTBank, FBN Holdings and Presco were actively traded stocks.

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By Iheanyi Nwachukwu • August 25, 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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