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Home General News

Bulls charge Nigerian bourse, investors gain N128.49 billion

Olumide Adesina by Olumide Adesina
March 19, 2020
in General News, Markets
Nigerian Stock Exchange, NSE: Return of the Bulls, Bulls reign at the bourse as stocks gain N460.69 billion on Wednesday, Okomu, UACN, Ekocorp top gainers list on Friday, Stock Market closed the week bullish as ASI grew 0.94% , Investors gain N41.94 billion on Tuesday as Bulls make rebound, NSE: Bearish trade costa investors N12.2 billion on Tuesday, NEM, Mansard, First Bank lead gaining stocks as ASI grew 0.61%, Nigerian bourse breathes a sigh of relief, index up 0.17%, Bulls charged Nigerian bourse, ASI Index up 1.09% investors gain N128.49 billion, Bulls stage comeback has ASI up 0.19%, investors gain N21.86 billion, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls dominate Nigerian bourse investors gain N162 billion
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The Nigerian bourse reversed previous day loss as the All Share Index rose by 1.09% on Wednesday to settle at 29,352.13. Consequently, investors gained N128.49 billion as market capitalization ascended to N11.876 trillion, bringing YTD performance to -15.05%.

Activity level was mixed, as volume traded went down by -0.65%, while value traded increased by 31.26% to a total of 671.51 million shares valued at N10.578 billion, in 7,247 deals.

Nigeria @59: Rise, fall & rise of Nigerian stock market 

Guaranty Trust Bank was the most traded stock by volume at 177.75 million units, followed by Zenith Bank with 147 million units of trades. Market breadth index was positive as MTNN (10.00%) led 19 gainers, as against 14 losers topped by OKOMUOIL (-8.25%).

Nigerian All Share Index rose as banking stocks boosted the Banking Index by +2.07%, trailed by the Oil & Gas Index +0.84%, and MTNN’S 10.00% price appreciation. However, the Consumer and Industrial Index depreciated by -1.53% and 1.00% respectively, while the Insurance sector lost 0.83%.

[READ MORE: Bears grip Nigerian bourse, ASI Index down 0.71%)

UNITYBNK (+9.52%), GUARANTY (+6.63%), and FIDELITYBK (1.14%) boosted the Banking Index, while OANDO (+9.95%) and ETERNA (+9.90%) closed the Oil & Gas Index North. On the flip side, OKOMUOIL (-8.25%), UACN (-4.00%) and NESTLE (-3.86%) led the laggards in the Consumer Goods Index, as DANGCEMENT (-3.12% ) and AIICO (-4.82%) closed the NSE Industrial and Insurance indices south.

Top gainers 

MTNN up 10% close at N104.50, OANDO up 9.95% close at N2.21; PZ up 9.88 %  close N4.45, CADBURY up 9.65% close at N6.25, and GUARANTY up 6.63% close at  N20.90.

Top Losers 

OKOMUOIL down 8.2% to close N55.05 AFRIPRUD  Down 7.45% to close at N3.23 UACN down 4% to close at N7.20 NESTLE down 3.86% to N880.00 close at  DANGCEM down 3.12% to close at N133.40.

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Tags: CadburyGuarantyMTN NigeriaNigerian bourseNigerian Stock ExchangeOandoOn the MoneyPZ

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