Nigerian stock market began the trading week on a positive note. The All Share Index gained 0.29% to close at 24,766.12 basis points as against +0.18% appreciation recorded at the last trading session. Nigeria bourse Year-to-Date (YTD) returns currently stands at -7.73%.
Trading volume was impressive on Monday’s trading session as trading volume surged by +83.45% as against -32.45% plunge recorded in the previous session. RANSCORP, CUSTODIAN, and GUARANTY were the most active to boost market turnover.
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Market breadth closed positive as NEIMETH led 19 Gainers as against 15 Losers topped by UACN at the end of today’s session – an unimproved performance when compared with the previous outlook.
Top gainers
NEIMETH up 10.00% to close at N1.65,FLOURMILL up 9.97% to close at N18.75,GLAXOSMITH up 8.16% to close at N5.3,BUACEMENT up 2.03% to close at N40.2,GUARANTY up 1.56% to close at N22.85.
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Top losers
UACN down 10.00% to close at N6.3, AIICO down 9.57% to close at N0.85, CUSTODIAN down 7.27% to close at N5.1, NEM down 5.00% to close at N1.9, DANGSUGAR down 3.77% to close at N11.5.
Outlook
Nigeria bourse ended on a positive note despite falling crude oil prices, as institutional investors increased their buying pressures on some Nigerian stocks. Narametrics however envisages cautious buying as growing concerns on the resurgence of COVID-19 virus raises some fears among investors.