Nigerian Stock market ended Wednesday’s trading session on an impressive note.

The All Share Index gained 1.04% to close at 25,141.48 basis points as against -0.58% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.34%. Investors gained N134.5 billion.

Trading turnover, however, closed negative as volume moved plunged by -0.84% as against +17.84% gain recorded on Tuesday. GUARANTY, ACCESS, and ZENITHBANK were the most active to boost market turnover.

Market breadth closed positive as SEPLAT led 18 Gainers as against 10 Losers topped by CHAMPION at the end of today’s session – an improved performance when compared with the previous outlook.

AIRTELAFRI leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.

Top gainers

• SEPLAT up 10.00% to close at N385
• AIRTELAFRI up 9.20% to close at N380
• PRESCO up 7.29% to close at N51.5
• GUINNESS up 6.21% to close at N15.4
• OKOMUOIL up 3.90% to close at N80

Top losers

• CHAMPION down 9.30% to close at N0.78
• ACCESS down 2.29% to close at N6.4
• BUACEMENT down 0.64% to close at N38.7
• ETI down 1.20%to close at N4.1
• ZENITHBANK down 0.59% to close at N16.75

Outlook

Nigerian bourse rallied up on Wednesday as blue-chip stocks that include GUINNESS, AIRTELAFRI, turned the All-Share index green, coupled with soaring crude oil prices triggered oil stocks like SEPLAT to appreciate in value. Nairametrics envisages you seek the advise of a certified financial advisor on buying stocks.

U.S stocks seem set to surge higher, rebounding after Tuesday’s trading losses as stock traders still remain optimistic about a stimulus package from U.S Congress.

Checks by Nairametrics revealed that the US 500 Stock Futures was up 0.7%. Also, the Dow Jones Index Futures contract gained by 0.9%, just as the Nasdaq 100 Futures rose by 0.9% as at the time this report was drafted.

At the close of Tuesday’s trading session, the Dow Jones Industrial Average lost 0.4%. Also, the S&P 500 index lost 0.8%, registering its first decline in eight sessions, even as the NASDAQ Composite index lost 1.7%.

Although negotiations between the Democrats and Republicans in Washington DC are currently on hold, most stock traders remain hopeful and expect Congress to find a compromise.

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In the meantime, investors have been mindful of the increasing tensions between the US and China. So far, Beijing has refrained from tough countermeasures and struck a more conciliatory note.

As investors increase their bets in risker assets like equities Milan Cutkovic, Market Analyst at AxiCorp in a note told Nairametrics, why stock traders seems to be bullish. He said;

While equity markets have remained relatively stable, volatility in precious metals has increased sharply. Gold has lost more than $200 in value since Friday and remains under pressure.

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The massive price increase in recent weeks has lured many speculators into profit-taking.

Furthermore, stock markets are rising again, decreasing the demand for safe havens, while the US Dollar is recovering from its recent sell-off.

Quick fact: The NYSE, commonly referred to as the New York Stock Exchange, is the biggest stock exchange in the world, with a market capitalization of over $25 trillion as of April 2020. It is followed by the following top three exchanges – the NASDAQ, London Stock Exchange, and the Tokyo Stock Exchange. Interestingly, their combined market capitalization size is still lower than that of the NYSE.

The Nigerian Stock Exchange on Tuesday closed bearish. The All Share Index dropped by 0.58% to close at 24,883.70 basis points as against -0.06% drop recorded on Monday.

Its Year-to-Date (YTD) returns currently stands at -7.30%. Nigerian bourse’s market capitalization presently stands at N12,981 trillion. Investors’ losses recorded today stood at N75.07 billion.

Trading volume turnover closed positive as volume moved up by +17.84% as against +4.90% uptick recorded in the previous session. ACCESS, FIDELITYBK, and GUARANTY were the most active to boost market turnover.

Market breadth closed negative as CADBURY led 16 Gainers as against 17 Losers topped by PRESTIGE.

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Top gainers

• CADBURY up 6.82% to close at N7.05
• NB up 6.25% to close at N34
• ARDOVA up 4.94% to close at N12.75
• VALUEFUND up 1.37% to close at N115.05
• GUARANTY up 1.02% to close at N24.8

Top losers

• IKEJAHOTEL down 9.82% to close at N1.01
• MANSARD down 8.23% to close at N1.45
• DANGCEM down 4.09% to close at N136
• GUINNESS down 3.33% to close at N14.5
• UCAP down 3.09% to close at N3.14

Outlook

Nigerian bourse recorded its second trading loss for the week, triggered by high selling pressures notable in DANGCEM and GUINNESS.

Nairametrics, however, recommend you seek the counsel of a certified financial advisor when buying stocks.