Stock market hits 9year high as investors gain N1.7tr in 8days

ON JANUARY 12, 2018

By Peter Egwuatu

The Nigeria Stock Exchange, NSE yesterday continued its record breaking performance with total market capitalisation rising by N437 billion, thus extending investors gain to N1.7 trillion in the first eight trading days of the year.

The floor of Stock exchange Driven by rally from both local and foreign investors, the Nigeria Stock Exchange, yesterday’s performance jerked up the NSE All Share Index, to 43,041.54 points, the highest in nine years.

Specifically, the All share Index significantly appreciated by 1,125.43 points or 2.9 percent from 41,816.11 points on Wednesday, the highest since October 2009. In the same vein, market capitalisation (total values of shares), which opened at N14. 8 trillion increased by N437 billion to close at N15.317 billion. The Year to Date, YtD return expanded to 12.5 percent from 38,264.79 points on 2nd January to close at 43.041.54 points. In similar manner, market capitalisation gained N1.7 trillion or 12.5 percent in 8 days trading period of the year. The market had on Tuesday recorded a three year high All Share Index high of 40,362.97 points, the highest since October 2014. According to analysts at Lagos based Afrinvest Plc, the market rally was boost by gains from the blue chips stocks across the subsectors. “Despite the decline in market breadth, sentiment remained positive. Hence, we expect the market to close of the week positive”, they stated. Analysis of yesterday trading shows that the performance across sectors was bullish as all indices closed in the positive.

The Banking index was the top performer, rising 4.4 percent on the back of buying interest across board. However, performance was driven largely by tier-1 banks namely Guaranty Trust Bank Plc, which went up 4.9 percent and Zenith Bank 3.1 percent. The Industrial Goods index followed suit, closing 3.3 percent as an upswing in Dangote Cement 2.0 percent buoyed performance while the Consumer Goods index rose 2.3 percent following upticks in Nigerian Breweries Plc which rose 4.6 percent and Guinness Nigeria Plc 9.6 percent. Similarly, price appreciation in SEPLAT by 2.3 percent and Forte Oil by 8.7 percent drove the Oil & Gas index at 2.7 percent northwards while the Insurance index recorded a 1.7 percent increase following a rally in Mansard Insurance by 8.4 percent and AIICO Insurance Plc by 3.5 percent.

https://www.vanguardngr.com/2018/01/stock-market-hits-9year-high-investors-gain-n1-7tr-8days/

Nice development.

1.7tr in 8 days?

But if this is shared among the investors, some no go get pass 10k sef.

Nice one

hope is not another of that their story?

Good news!

LionDeLeo:
Nice development.

1.7tr in 8 days?

But if this is shared among the investors, some no go get pass 10k sef.

Morning boss

It shows to other investors sitting on the fence that we are OK as a nation financially to come in and do business

God bless the economic team lead by pmb,Osinbajo, kemi,Emiefele and others

God bless Buhari, Naija must rise and we shall get to the promise land.

ipigs

How much is the share of most of these coys? Compare it to 5 years ago, then you'll understand the lies around 9 years all time high. Liars

new2012:
How much is the share of most of these coys? Compare it to 5 years ago, then you'll understand the lies around 9 years all time high. Liars

God bless you, they wont tell us that NSE was N13t when $ was N80 before NdiOkere and co crashed it

Some people will come here to tell us is lies, because anything that's "Positive" about dis government is lies. May God help them.

Did it affect me in my street?

ok

Flexherbal:
Good news!

Wait.

Se you really understand that thing? Please explain to

Let us please not politicize hard working private Nigerians worked to make this possible despite the failure of the government.


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Na so una go dey talk now. When Nigerians rush put their money inside everything go just crash

I hope it is sustainable, and not some form of bubble or even artificial manipulation.

While Ipods and wailers are sitting at home on in the Internet and shouting they are suffering, some are taking advantage of the economy, investing and reaping the dividends

Yyeske:
God bless Buhari, Naija must rise and we shall get to the promise land.

Sorry....this news does not actually benefit the economy.

If we have a growing number of industries making goods for export....so be it.

ipods wont like this, i mean the developers

Keep deceiving the zombies

alexlife:
hope is not another of that their story?

Looks like another of their story oo

9jakohai:


Sorry....this news does not actually benefit the economy.

If we have a growing number of industries making goods for export....so be it.

You will say it does not benefit you, but it surely benefits some people. Government can not do everything for you. Some people currently are still making their millions

brainpulse:
You will say it does not benefit you, but it surely benefits some people. Government can not do everything for you. Some people currently are still making their millions

Well, I would rather that such billions were invested in this country's industrial development.

The stock exchange is growing, yes, but it could have been much better if we had better power generation, deregulation of the downstream sector and increased spending on education, with the aim of getting us off the dependency on raw materials export.

watch them say na lie... awon omo ale Nigeria

ok

Remii:


God bless you, they wont tell us that NSE was N13t when $ was N80 before NdiOkere and co crashed it

she was a crook

Igbanbo:


Southern, middlebelt leaders in handshake across the Niger want herdsmen declared terrorists


A convocation of Southern and Middle-belt leaders in Enugu on Thursday has faulted President Muhammadu Buhari for the Federal Government’s refusal to declare the herdsmen as terrorists, as was done to the outlawed Indigenous People of Biafra. They requested the federal government to immediately declare both the Myitte Allah Cattle Breeders Association and rampaging Fulani herdsmen as terrorist groups.

The convocation met under the auspices of Handshake ‎Across the Niger; a Celebration of Igbo/Yoruba Friendship Beyond Brotherhood, organised by a pan Igbo group, Nzuko Umunna. The event, hosted by the leaders of Afenifere and the Ohanaeze Ndigbo, was also attended by the representatives of the South-South and the Middle Belt.

Those from the South-West included Chief Olu Falae, Ayo Adebanjo, former Ondo governor Olusegun Mimiko, former aviation minister, Femi-Fani Kayode, among others. The Middle-belt delegation, which included a former governor of Kwara State, Chief Cornelius Adebayo, was led by ex-Plateau Governor, Jonah Jang.

The South-East representatives include: the President-General of Ohanaeze Ndigbo, Chief Nnia Nwodo, former Governor Chukwuemeka Ezeife, Deputy Governor of Imo State, Sen. Enyinnaya Abaribe, who represented the Deputy Senate President, Ike Ekweremadu, representatives of both the Enugu and Anambra governors among other dignitaries.

Others at the meeting were Prof. Anya O. Anya, Prof. Pat Utomi, Igwe Alfred Achebe of Onitsha, Chief Ifeanyi Uba, Yinka Odumakin, wife of former military leader Aguiyi Ironsi, Victoria, son of the late Col. Adekunle Fajuyi, who was killed with Aguiyi-Ironsi in the 1966 counter-coup, Donald.

Read more: https://newsworth.ng/southern-middlebelt-leaders-handshake-across-niger-want-herdsmen-declared-terrorists/

and you call those useless pdp thieves Yoruba leaders? the only Yoruba leaders are the afeniferes. ffk and the likes only went there for a show of shame