Presco, others halt stock market’s losing streak

Nigeria’s equities market recorded its first gain this week, ending a two-day journey southwards, thanks to Presco Plc which led the league of advancers.

FBN Holdings Plc, GTCO Plc, United Capital Plc Zenith Bank Plc and Caverton Offshore Support Group Plc were actively traded stocks on the Nigerian Bourse. In 5,248 deals, investors exchanged 336,305,180 shares valued at N5.860billion.

The stock market’s benchmark performance indicator – Nigerian Exchange Limited (NGX) All-Share Index (ASI) – increased by 0.28percent on Wednesday, from preceding day low of 47,154.35 points to 47, 287.09points.

Read also: Local investors account for 87.23% of Nigeria’s equities transactions in Jan.

Also, the value of Nigeria’s listed stocks increased by N72billion, from preceding day’s low of N25.413trillion to N25.485trillion.

The stock market’s year-to-date (YtD) positive return printed higher at 10.70percent; while month-to-date (MtD), the market has decreased by 0.23percent.

Presco Plc led the gainers table after its share price moved up from N104.50 to N114.95, up by N10.45 or 10percent. It was followed by Pharma Deko Plc which rose from N1.82 to N2, adding 18kobo or 9.89 percent; and Linkage Assurance Plc which advanced from 51kobo to 56kobo, up by 5kobo or 9.80 percent.