Nigeria’s stock market witnessed positive close for the third time this week, thanks to investors that bought shares of Mobil Nigeria Plc, CAP Plc, Stanbic IBTC Holdings Plc, Presco Plc, and GTBank Plc. Increased buy-side activities on the local Bourse made stock investors book N20billion gain.

The market continues to enjoy positive investors’ patronage as a number of bellwether stocks post better-than-expected earnings results. Market watchers expect no major shift from this pattern on Thursday, though not without the presence of short term players who might activate some level of profit taking after recent gains.

READ ALSO: Large cap stocks lift Nigeria’s market further high

The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 0.16percent to 24,882.04 points on Wednesday August 5, as against 24,841.94 points the preceding trading day while the value of listed stocks increased from N12.959trillion to N12.979trillion.

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In 3,860 deals, investors exchanged 383,289,488 units valued at N3.892billion. UACN, FBN Holdings, Access Bank, Zenith Bank and Presco were actively traded stock on Wednesday.

Mobil Nigeria Plc share price advanced most during the remote trading session, moving from day open low of N173.4 to N175, adding N1.6 or 0.92percent.

It was followed by CAP Plc which increased from N15.4 to N16.9, adding N1.5 or 9.74percent. Stanbic IBTC went up from N30 to N31.5, adding N1.5 or 5percent. Presco advanced from N47.45 to N48, adding 55kobo or 1.16percent, while GTBank share price also increased from N23.15 to N23.6, up by 45kobo or 1.94percent.

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By Iheanyi Nwachukwu • August 6, 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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