Renewed interest in Guinness, Dangote Cement, MTN shares drive N80 billion gain
Year to date, the index is down by 3.63 per cent.
ADVERTISEMENT
Nigerian stocks stretched gains by N80 billion or 0.61 per cent on Friday, building on the tenuous rally reported at the previous session, even though the losses seen so far this week outweigh gains.
Against analysts’ expectations, equities have bucked macroeconomic trends for two days now to close in the positive territory. The
announcement by the statistics office on Thursday put the inflation figure for March at 18.17 per cent, the highest in more than four years.
The advance derived strength from high buy orders on the shares of Guinness, Dangote Cement and MTNN, with investors’ renewed interest in the telco coming after the Ministry of Communications and Digital Economy
Punch Newspapers
Sections
Published 12:12 am
The Nigerian Exchange Limited has listed BUA Cement Plc’s N115 billion 7-Year Series 1 Fixed Rate Senior Unsecured Bond issue, the first listing in the NGX era.
The listing was commemorated with a digital Closing Gong Ceremony featuring the Chief Executive Officer, BUA Cement Plc, Mr Yusuf Haliru Binji, according to a statement by NGX.
Speaking during the ceremony, the Divisional Head, Listings Business, NGX Limited, Mr Olumide Bolumole, said, “In line with its commitment to support Nigeria’s economic growth by providing a liquid, efficient, and multi-asset securities exchange hub, NGX Limited continues to provide a platform that offers investors varied options including equity, fixed income, exchanged traded products and other funds.
Retail investors in search of valuable information such as “Fact behind the figures” or excerpts of “investor calls” held between listed companies and analysts are not expected to find such information on the Nigerian Stock Exchange.
This is because there are no rules that mandate listed companies to publish such information on the stock exchange or even send notices of when such calls will be held. Instead, the companies send facts behind the figure’s information or notices on earnings calls to Pension Funds, Institutional Investors, and Fund Managers, giving them access to critical information required to make better investment decisions.
NGX: Stock market investors lose N81 billion to profit-taking today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.