Nigerian banking stocks remain most liquid stocks, as investors gain N25.1 billion

The Nigerian Stock Exchange opened the week on a positive trajectory, with market indicators posting positive at the end of Monday’s trading session. The All Share Index closed at 25,316.15 points after a 0.19 per cent appreciation.

Equities investors on Nigeria’s bourse gained N25.1 billion as market capitalization appreciated by the same margin to close at N12.48 trillion.

Market turnover finished lower compared to previous trading session; total volume and values dipped by 22.21% and 40.87% respectively, to 253.30 million units and N2.64 billion. FBNH was the most traded stock by volume at 41 million units, while GUARANTY topped by value at N887.45 million.

Related posts

Stocks worth over one trillion gain N50.89 billion in market capitalization

September 18, 2021

Price gains of 3% for crude oil on tight oil supply over the past week

September 18, 2021

READ ALSO: Nigerian banking stocks ignore red flags, boost Nigeria Stock Market

Market breadth closed positive as the number of gainers at the close of trading session was 28 while decliners closed at 10. DANSUGAR (9.69%) recorded the highest price gain to close at N14.15 per share, while FIDSON (-9.71%), and STANBIC (-9.22%) led the laggards to close at N3.07 and N32.50 respectively.

Sectoral performance was positive, following gains in the Banking, Consumer Goods, and Industrial Goods Indices, having appreciated by 1.28%, 1.13% and 0.54% respectively; the Insurance Index was negative by -0.93%, while the Oil and Gas index finished flat.

The Banking index led gainers, following renewed bargains in FBNH, UBA, GTB & ZENITH BANK. Similarly, the Consumer and Industrial Goods indices appreciated due to buying interest in DANGSUGAR (+9.69%) and NACHO (+10.0%). Conversely, the Insurance index was the lone laggard, down 0.93% as a result of sell-offs in MANSARD (-8.87%).

READ ALSO: Covid-19: Nigeria risks supply chain bottleneck, loss of N2.27 trillion in trade

Top gainers

DANGSUGAR up 9.69% to close at N14.15; VITA FOAM up 7.21% to close at N5.95; GUARANTY up 2.29% to close at N24; NB up 1.62% to close at N44; and BUACEMENT up 0.71% to close at N42.3.

Top losers

FIDSON down 9.71% to close at N3.07; STANBIC down 9.22% to close at N32.5; MANSARD down 8.87% to close at N1.85; FLOURMILL down 4.76% to close at N20; and CAVERTON down 3.10% to close at N2.5.

Outlook

Nigeria’s stock market started the first trading day in the month of June, with positive gains across market sectors except for the insurance sector. Nairametrics envisages cautious buying as price swing strengthens.