NGX-ASI nears 138,000 points as stocks rally further by 2.07%

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Nigeria’s stock market rally continued on Tuesday by 2.07 percent, driving the market’s benchmark performance indicator near 138,000 points. The market’s return year-to-date (YtD) reached 33.99 percent.

Berger Paints led the league of Tuesday’s major advancers after its share price increased by N3.10 or 10 percent, from N31 to N34.10.

The share price of another major gainer, Ellah Lakes rose from day-open low of N8.91 to N9.80, adding 89kobo or 9.99percent.

Likewise, the share price of Learn Africa, another major gainer on Tuesday increased from N6.30 to N6.93, adding 63kobo or 10percent.

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Meanwhile, investors sold mostly the shares of Northern Nigeria Flour Mills (NNFM), Vitafoam, IMG, and International Breweries. NNFM decreased most from N103.50 to N93.15, losing N10.35 or 10 percent. Vitafoam decreased from N87.85 to N79.10, losing N8.75 or 9.96percent. SIMG was down from N41.80 to N37.65, losing N4.15 or 9.93 percent, while International Breweries decreased from N16.20 to N15.05, losing N1.15 or 7.10 percent of its day-open price.

At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation which opened trading at 135,166.51 points and N85.455 trillion respectively increased to 137,963.07 points and N87.223 trillion.

Fidelity Bank, Royal Exchange, Jaiz Bank, Universal Insurance and Access Holdings were actively traded stocks as investors in 28,033 deals exchanged 925,148,865 shares valued at N29.868billion.

TAGGED:bdothernews Nigeria's stock market

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ByIheanyi 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.