Nigeria’s listed stocks garnered about N212billion on Tuesday November 10 as investors continued their bargain hunting activities in mid/large cap stocks. Thanks to MTNN, Stanbic IBTC, NASCON, Dangote Sugar, Ardova and other counters that moved higher. In just two trading days into this week, investors have gained over N850billion while the market has risen by + 5.26percent.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 1.25percent at the close of remote trading session on Tuesday, moving from 32,243.05 points to 32,647.10 points; while market capitalisation increased from N16.847trillion to N17.059billion.

Given the strong positive market breadth coupled with the significant bullish sectoral performances, analysts expect no deviation from currently bullish trading pattern. Though, with the gains recorded in the last few sessions, the possibility of profit taking cannot be overruled.

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The market’s year-to-date (ytd) positive return moved to new high of 21.63percent. In 7,651 deals, investors exchanged 578,779,229 units valued at N7.743billion. Zenith Bank, FBN Holdings, Access Bank, Fidelity Bank and GTBank were actively traded stocks.

On the top advancers list, MTNN led others after its share price moved from N150.1 to N156.2, up by N6.1 or 4.06percent.

Stanbic IBTC followed, moving from day open low of N46 to N48, adding N2 or 4.35percent. NASCON also rallied from N14.05 to N15.45, adding N1.4 or 9.96percent. Dangote Sugar Refinery Plc increased from N18.1 to N19.4, up by N1.3 or 7.18percent. Ardova increased from N13.45 to N14.4, adding 95kobo or 7.06percent.

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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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