Investors in Nigeria’s equities market booked about N102billion gain on Tuesday June 8 as the market advanced by 0.50percent at the close of trading session.

Increased buy activities in favour of stocks like Okomu Oil Palm Plc, Learn Africa, Champion Breweries, Unilever and Cornerstone helped pushed the market to new high. The market’s record negative return year-to-date (ytd) decreased to -3.45percent.

Except banking (-0.05percent) and insurance sectors (-1.22percent), all other sectoral indices closed the day in green –namely NGX Consumer Goods (+0.57percent), NGX Industrial (+1.07percent) and NGX Oil & Gas (+0.08percent).

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Equities trading on the Nigerian Exchange (NGX) Limited closed with NGX All Share Index (ASI) and Market Capitalisation moving from preceding day low of 38,686.4 points and N20.164trillion respectively to 38,881.7 points and N20.266trillion.

Okomu led the gainers after its share price increased from N 96.50 to N 106.15, adding N9.65 or 10percent, followed by Learn Africa which rose from N1 to N1.09, adding 9kobo or 9percent and Champion Breweries which rallied from N1.91 to N2, adding 9kobo or 4.71percent.

Also, Unilever moved from N11.65 to N12.10, gaining 45kobo or 3.86percent, while Cornerstone rose from 56kobo to 58kobo, adding 2kobo or 3.57percent.

In 3,630 deals, investors exchanged 218,514,879 units valued at N1.590billion –led by transactions in shares of Courteville Business Solutions Plc, Fidelity Bank Plc, Zenith Bank Plc, Axa Mansard Plc and Veritas Kapital Assurance Plc

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By Iheanyi Nwachukwu • June 9, 2021

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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