Nigeria’s Stock market ended Tuesday’s trading session on a bullish note, by gaining 0.34% to close at 25,355.15 index points. Market capitalization also increased by the same margin to N13.216trillion as investors gained N44.4 billion.
Although volume of shares traded was up by 16.59% to 268.7 million, the value traded dropped by 48.25% to N1.12billion.
MBENEFIT was the most traded stock by volume at 99.45 million units while FBNH topped by value at N96.5 million.
The market breadth index was negative with 22 losers against 13 gainers. BOCGAS (+10.00%) led the gainer’s chart while MOBIL (-9.96%) was the top loser.
Across sectors, three of the five indexes under our coverage gained. Price appreciation in BOCGAS (+10.00%) and BUACEMENT (+4.10%) moved the NSE Industrial index up by +2.65%, while the NSE Insurance & Consumer Goods followed distantly to gain 0.40% and 0.26% respectively.
Conversely, the NSE Oil & Gas and Banking indexes were down -2.26% and -0.20%, respectively on the back of sell-offs in MOBIL (-9.96%) and FBNH (-2.73%).
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Top gainers
BOCGAS up 10.00% to close at N4.51, NEIMETH up 9.79% to close at N2.13, PRESTIGE up 9.38% to close at N0.7BUACEMENT up 4.10% to close at N43.2, DANGSUGAR up 2.75% to close at N14.95
Top Losers
MOBIL down 9.96% to close at N192.6, FIDSON down 7.69% to close at N3, REDSTAREX down 6.56% to close at N3.81, FBNH down 2.73% to close at N5.35CADBURY down 1.96% to close at N7.5,
Outlook
Bluechip stocks led by BUACEMENT boosted the bullish momentum at Nigerian bourse today. However, the gains were capped by sell-offs observed in MOBIL and FBNH. Nairametrics recommends you seek the advice of a certified financial advisor when picking stocks.
