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Business News

Bulls dominate Nigerian bourse, investors gain N162 billion

The Nigerian bourse continued its upward trend as the benchmark All Share Index recorded a 1.47% increase to close at 21,384.03 points.

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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

The Nigerian bourse continued its upward trend as the All Share Index recorded a 1.47% increase to close at 21,384.03 points. Market capitalization also rose by 1.47% to N11.144 trillion, as investors gained N161.96 billion.

Activity level in terms of volume and value dropped, with volume traded fell to 314.90 million, while value traded declined to N5.018 billion in 5,427 deals.

First Bank Nigeria was the most traded stock by volume at 56.01 million units, followed by UBA  with 37.7 million units of trades.

Sectors performances were mainly positive as four of the five indices recorded gains. Consumer Goods  Index (+5.03%) led gains among the sectors, trailed by Banking (+3.96%), Oil & Gas  (+1.36%) and Insurance  (+0.20%), while Industrial Index (-0.57%) lagged.

(READ MORE: Bulls push Bitcoin pass $7,200 mark)

DANGSUGAR (+9.74%), CADBURY (+9.52%) and NESTLE (+8.52%) all recorded solid gains to lift the Consumer Goods Index. Sustained buy interest in UBA (+9.73%) and FBNH (+6.82%) spurs the lenders Index, as SEPLAT (+1.00%), AIICO (+5.00%) propped the Oil & Gas and Insurance Index, while BUACEMENT -2.22% price depreciation impacted the industrial Index.

gtbank, stock market, Bulls dominate Nigerian bourse ASI up 0.74%, Investors gain N77 billion., Bulls dominate Nigerian bourse investors gain N162 billion

Bulls and stock market capitalization

Top gainers 

DANGSUGAR up 9.74% to close atN10.7, NESTLE up 8.52% to close at N830.2, WAPCO up 7.20% to close at N12.65, STANBIC up 6.12% to close at N26, SEPLAT up 1.00% to close at N495.

READ MORE: Banks refund N76.75 billion, $20.90 million to customers after complaints – CBN 

Top Losers 

SKYAVN down 7.41%  to close atN2,,NAHCO down 5.14% to close at N2.53, REDSTAREX down 3.33% to close at N2.9, BUACEMENT down 2.22% to close at N30.80, UACN down 0.70% to close at N7.05

bitcoin train

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

1 Comment

1 Comment

  1. Shola

    April 9, 2020 at 11:31 pm

    Is Nairametrics into Fx trading? am interested also if u can post a write up on this pls

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