Nigeria’s stock market opened this week on a positive note, driven by gains in equities like Total Nigeria, MTNN, BUA Cement, Cadbury and Nascon.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) was gained 0.31percent on Monday January 20, after rising from a preceding high of 29,618.52points to 29,710.56 points.

In 5,052 deals, investors exchanged 266,947,980 units valued at N4.184billion. The value of NSE listed equities increased by N47billion from day open low of N15.256 trillion to N15.303trillion.

The month-to-date (MtD) positive return stood at +10.69percent. Total Nigeria stock price increased from N107 to N117, adding N10 or 9.35percent. MTNN was also upbeat from N126.6 to N128.3, adding N1.7 or 1.34percent.

BUA Cement advanced from N36 to N37, adding N1 or 2.78percent; Cadbury Nigeria rose from N10 to N10.85, adding 85kobo or 8.50percent. Nascon also rose from N15 to N15.7, adding 70kobo or 4.67percent.

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Market watchers expect investors to take profit in names that have rallied in recent trading sessions, with a possibility of bargain hunting in other value counters.

On the losers table, Nestle Nigeria stock price dipped most from N1469.9 to N1380, adding N89.9 or 6.12percent. Unilever Nigeria Plc followed after its share price decreased from N18.5 to N18 , losing 50kobo or 2.70percent.

NCR also made the top decliners league after its share price dropped from N4.05 to N3.65, losing 40kobo or 9.88percent, and Oando Plc which stood lower from N3.7 to N3.52, after losing 18kobo or 4.86percent.

 

Iheanyi Nwachukwu

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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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