Investors gain additional N253bn as stocks' rally continues

Stock investors booked additional N253billion gain at the end of trading session on Tuesday February 12, 2019 following ongoing rally at the Nigerian Stock Exchange (NSE). The Year-to-Date (YtD) returns stood at +3.28percent. At the sound of closing gong, 38 companies gained as against 14 losers.

The NSE All Share Index (NSE) increased by 2.14percent from 31,781.87 points to 32,462.31 points while the Market Capitalisation advanced from N11.852 trillion to N12.105trillion.

Investors took positions in highly capitalised stocks. For instance, Nestle Nigeria Plc rallied most by N90, from N1500 to N1590, up 6percent; followed by Seplat Plc which increased from N565.5 to N600, after adding N34.5 or 6.10percent.

Dangote Cement Plc gained N4.3 or 2.32percent, from N185 to N189.3; Mobil Nigeria Plc gained N4, from N180 to N184, adding 2.22percent; while Nigerian Breweries advanced from N78 to N80.05, up by N2.05 or 2.63percent.

On the losers’ league, Okomu Oil Palm Plc led the pack after its share price declined from N85 to N82.2, losing N2.8 or 3.29percent.

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Cement Company of Northern Nigeria Plc followed after its share price lost N1.05 or 4.76percent, from N22.05 to N21. Julius Berger Nigeria Plc decreased from N26 to N25.5, losing 50kobo or 1.92percent.

UAC of Nigeria Plc decreased from N9.5 to N9.3, losing 20kobo or 2.11percent; while Stanbic IBTC Holdings Plc stock price dipped from N48 to N47.8, losing 20kobo or 0.42percent.

In 7,052 deals, stock traders exchanged 580,413,252 units valued at N8.032billion. Diamond Bank Plc, Zenith Bank Plc, GTBank Plc, Transcorp Plc and Access Bank Plc were actively traded stocks on the NSE.

Iheanyi Nwachukwu

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.