Nigeria’s stock market moved further high by 0.31 percent on Tuesday August 4, due to increased bargain in SEPLAT, Nigerian Breweries, Flour Mills, Zenith Bank, and UACN. Investors gained about N40billion at the close of trading session.

For SEPLAT, investors at the Nigeria Stock Exchange may have started pricing in their expectations from the new CEO Roger Brown, who resumed on August 1, 2020. He is expected to lead the company into its next phase of growth aspirations following the retirement of the founding CEO Austin Avuru on July 31, 2020 after 10 years.

For those buying Flour Mills shares after the company finished its full year stronger, they are positioning to reap the benefits of a proposed final dividend N1.40 which represents increase of 17percent.

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The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased to 24,841.94 points while the value of listed stocks rose to N12.959trillion respectively as against preceding trading day low of 24,766.12 points and N12.919trillion. The market’s negative return year-to-date has decreased to -7.45 percent.

In 4,222 deals, investors exchanged 154,467,244 units valued at N1.457billion. Transcorp, FBN Holdings, Lafarge Africa, Nigerian Breweries and Custodian Investment were actively traded stocks on the Bourse.

SEPLAT led the gainers after its share price moved from day open low of N310.2 to N321, up N10.8 or 3.48percent. Nigerian Breweries also went up from N31 to N32, adding N1 or 3.23 percent. Flour Mill increased from N18.75 N19.5, up 75kobo or 4 percent, Zenith rose from
N16.35 to N16.95, up by 60kobo or 3.67 percent while UACN went up from N6.3 to N6.85, after it added 55kobo or 8.73percent.

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By Iheanyi Nwachukwu • August 5, 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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