Stock investors gain over N1trn in 4 days

Nigeria’s stock market furthered its northwards movement on Thursday December 17, rising by 2.10percent at the close of trading session.

Investors raised bets in value stocks like Airtel Africa Plc, Dangote Cement Plc, Okomu Oil Plc, Unilever Nigeria Plc and Ardova Plc.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased from 35,493.15 points to
36,239.62 points, pushing the year-to-date (ytd) return higher at +35.01percent.

The value of listed stocks increased to N18.940trillion, from N18.550trillion recorded the preceding trading day, up by about N390billion. The market had opened this week with value of listed stocks at N17.902 trillion. It implies that in four trading days into the week, stock investors gained N1.04trillion.

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Market watchers expect no deviation from this bullish pattern tomorrow, evidenced in the positive market breadth as well as the positive sectoral performances.

Though, given that the market has gained consistently in the last four trading sessions, the possibility of profit taking on recent gains cannot be overruled in the near term.

In 3,895 deals, investors exchanged 343,636,305 units valued at N4.349billion. FBN Holdings Plc, UBA Plc, Access Bank Plc and Zenith Bank Plc were actively traded stocks.

Airtel Africa Plc advanced most from day open low of N704 to N774.4, up by N70.4 or 10 percent. Dangote Cement Plc also increased from N195 to N200, up by N5 or 2.56 percent.

Other stocks that gained on the Bourse include Okomu Oil Plc which rose from N88 to N91, up by N3 or 3.41 percent. Unilever Nigeria Plc also advanced from N13.1 to N14.35, up by N1.25 or 9.54 percent, while Ardova Plc recorded price increase from N12.05 to N13.25, up N1.2 or 9.96 percent.