…as Seplat, Dangote Cement, BUA Cement, lead bull race

The bullish race seen this year on the Nigerian Exchange Limited (NGX) continued on Tuesday, pushing the market’s benchmark performance indicator close to 100,000 psychological level.

Leading the 155 member companies in the latest bull race that pushed this year’s return higher to 31.89 percent are stocks like Seplat Energy, Dangote Cement, BUA Cement, Eterna and Meyer.

The market increased by 2.97 percent on Tuesday as investors booked over N1.56 trillion gain.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased further from preceding trading day’s lows of 95,768.12 points and N52.408trillion respectively to 98,616.97 points and N53.967 trillion.

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Transcorp, Sterling Financial Holding Company, UBA, Access Corporation and Zenith Bank were actively traded stocks as investors in 16,589 deals exchanged 747,514,672 shares worth N16.276billion.

Seplat Energy lead the league of gainers after its share price increased from preceding day’s low of N2541 to N2795.10, up by N254.10 or 10 percent.

It was followed by Dangote Cement which rose from N592.60 to N651.80, after adding N59.20 or 9.99 percent.

Also, BUA Cement made the league of top advancers after its share price rose from N148.50 to N163.35, up by N14.85 or 10 percent, and Eterna which increased from N 25.20 to N 27.70, adding N2.50 or 9.92 percent. Meyer also rose from N3.24 to N3.56, up.by 32kobo or 9.88 percent.

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By Iheanyi Nwachukwu • January 23, 2024

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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