Nigeria’s stock market opened this week on a positive note, thanks to investors who bought Ardova Plc, Presco Plc, Flour Mills Plc, Berger Paints, Okomu Oil Palm Plc and other stocks that contributed to 0.08percent increase in the NSE All Share Index.
Twenty-eight (28) stocks gained as against 24 losers. Ardova Plc, one of analysts’ stock picks for 2021 led the market’s top gainers after its share price moved from N16.35 to N17.95, up by N1.6 or 9.79percent. Presco Plc advanced from N71 to N72, adding N1 or 1.41percent.
Amidst record significant decline in the market last week, analysts expect a recovery this week as current price dip in the Industrial goods sector drives some buying interest.
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Also on the gainers table is Flour Mills Plc which moved from N26.7 to N27.45, up 75kobo or 2.81percent. Berger Paints rallied from N7.35 to N8.05, up by 70kobo or 9.52percent, while Okomu Oil Palm Plc rose from N92.5 to N93, up 50kobo or 0.54percent.
Though, the market’s year-to-date (Ytd) return remains negative at 0.30percent. The Nigerian Stock Exchange (NSE) ASI moved from 40,120.22 points to 40,150.78 points, while value of listed stocks moved higher by N16billion from N20.978 trillion to N20.994trillion.
In 5,338 deals, investors exchanged 335,699,532 units valued at N2.489billion. Mutual Benefit, AXA Mansard, Lafarge Africa, Fidelity Bank and Zenith Bank were actively traded stocks.
