Stock market gains N128bn on renewed buy interest

Investors on the Nigerian Stock Exchange (NSE) are beginning to buy into recent dip as earlier envisaged. This move led to the record positive close on Tuesday March 10.

Investors showed remarkable interests in stocks like Champion Breweries (+8.91 percent ), Neimeth (+8.85percent) and Nahco (+6.64percent).

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalisation moved up from 38,686.85 points and N20.241trillion respectively on Tuesday to 38,931.25 points and N20.369trillion.

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The NSE ASI increased by 0.63percent at the close of trading, while the value of listed stocks decreased by N128billion.

In 4,437 deals investors exchanged 368,216,369 units valued at N4.909billion. UBA, FBN Holdings and GTBank were actively traded stocks on the Bourse.

The market’s year-to-date (YtD) negative returns decreased to -3.33percent, while the record dip this month stood at -2.18percent.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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