Bulls lift Nigerian bourse, investors gain N133 billion -

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.

Is this the end of the bull market?

August 8, 2024

Nigeria’s Equities Market in the red as Investors lost N111 Billion

July 28, 2023

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.

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.

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.