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Home Business News

Bulls lift Nigerian bourse, investors gain N133 billion

Olumide Adesina by Olumide Adesina
April 7, 2020
in Business News, Markets
How your stocks performed last week, Bears rule at the stock market, lose N174.37 billion on Wednesday , Nigerian bourse up 0.54% as Investors gain N63 billionBears dominate Nigerian bourse Index down 0.94%, trading volume remains low,Bears dominate Nigeria bourse trading session, ASI down 2.02%, Bulls lift Nigerian bourse, Index up 1.24%, Investors gain N133 billion, Banking Stocks stop the raging bulls at the Nigerian Stock Market index down 0.01%
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The Nigerian bourse ended Tuesday’s trading session in the green, halting its previous losses as the All Share Index improved by 1.24% to 20,925.19 points. Investors gained N133.31bn, as market capitalization closed by the same margin to N10.904 trillion, bringing YTD performance to -18.49%.

Market upturn was paired with strong trading activity, as total volumes and values traded on the local bourse appreciated markedly by 328.79% and 34.93% respectively, and 1.44billion units of shares valued at N5.56 billion exchanged hands in 4,647 deals.

Omoluabi Mortgage Bank was the most traded stock by volume at 1.100 billion units, followed by GTBank with 161.05 million units of trades.

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Performance across sectors closed mixed, as two out of the five indices under our coverage posted gains. Appreciation in tier one banking stocks UBA (+9.00%) and ZENITHBANK (+7.47%) spurred the lenders by +3.22%, followed by the Industrial sector (+0.30%) on sustained gain in WAPCO (9.69%).

Conversely, price decline in MANSARD (-9.71%) dragged the Insurance Index lower, while sell-offs in ARDOVA (-9.78%), CADBURY (-10.00%), and FLOURMILL (-2.33%) weighed down the Oil & Gas /Consumer Good indices.

(READ MORE: Bulls lift Nigerian bourse up 0.10%, as trading volume picks up)

Top gainers

CUSTODIAN up 9.52% to close at N5.75; WAPCO up 9.69% to close at N10.75; UBA up 9.00% to close at N5.45; ZENITHBANK up 7.47% to close at N12.95; and MTNN up 3.04% to close at  N94.8.

Nigerian Stock Exchange, Beta Glass, Forte Oil, Transcorp lead gainers chart on Wednesday, Law Union, AIICO, Honeywell top gainers’ chart on Wednesday, Investors lose N9.14 billion to bearish trades on Wednesday ,Bulls lift Nigerian bourse, Index up 1.24%, Investors gain N133 billion

Top losers

CADBURY down 10.00% to close at N6.3; MANSARD down 9.71% to close at N1.58; ARDOVA down 9.78% to close at N12.45; FLOURMILL down 0.33% to close at N21; and BUACEMENT down 0.94% to close at N31.5.


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Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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