Nigeria stock investors seen recouping losses

Investors in Nigeria’s equities market are gradually recouping previous losses following increased bargains in the later part of month ended September 30.

More investors are hunting for value in the stock market as yields in the fixed income space remain unattractive. The stock market ended the third quarter (Q3) trading session well.

For the first time lately, the stock market is closing in on cancelling its negative year-to-date (YtD) return which printed low at -0.02percent, thanks to stocks that fuelled about N117billion gained on Wednesday September 30.

Total Nigeria Plc led the gainers table after its share price moved from N88 to N96.8, adding N8.8 or 10 percent. It was followed by Dangote Cement Plc which increased from N139 to N142.9, adding N3.9 or 2.81percent.

Also on the bargain list include MTNN Plc which increased from N127.5 to N129, up by N1.5 or 1.18 percent; GTBank Plc which rose from N27.05 to N28.05, adding N1 or 3.70 percent and UACN Plc which rose from N6.35 to N6.95, after adding 60kobo or 9.45 percent.

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By Iheanyi Nwachukwu • September 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.