Nigerian bourse ended the first trading session of the week on a relatively solid note.
The All Share Index (ASI) gained 0.05% to close at 25,605.59 points, as against the +0.28% upsurge recorded last Friday. Its Year-to-Date (YTD) returns currently stands at -4.61%.
NSE market capitalization presently stands at N13.358 trillion. Investors’ profits from today’s trading session stood at N7.11 billion.
READ: Non-Performing loans in Nigerian Banks rise to N1.21 trillion in H1 2020
- Nigerian bouse trading turnover also printed positive numbers, closing volume surged by +20.82%, as against the -10.04% plunge recorded on Friday. CUSTODIAN, GUARANTY, and WAPCO were the most active to boost market turnover.
- LAWUNION leads the list of active stocks that recorded an impressive volume spike at the end of Monday’s trading session.
- Market breadth closed positive, as NEIMETH led 17 Gainers as against 16 Losers topped by INTBREW at the end of today’s session – an unimproved performance when compared with the previous outlook.
READ: STANBIC IBTC posts Profit After Tax of N45.2 billion in H1 2020
Top gainers
1. NEIMETH up 9.55% to close at N1.95
2. CAP up 6.67% to close at N16.8
3. WAPCO up 1.95% to close at N13.05
4. DANGCEM up 0.75% to close at N135
5. GUARANTY up 0.40% to close at N25.1
READ: Zenith Bank, Unilever, Okomu Oil record losses as investors lose N39.2 billion
Top losers
1. INTBREW down 8.57% to close at N3.2
2. UAC-PROP down 8.42% to close at N0.87
3. FCMB down 7.73% to close at N2.03
4. FIDSON down 5.41% to close at N3.5
5. STANBIC down 1.25% to close at N39.5
Outlook
Nigerian bourse rallied slightly higher amid crude oil prices picking up, although the surge in COVID-19 infection rates rattled local investors, as stock traders remained wary on the prevailing macro across Nigeria’s international market.
- That said, significant buying pressures were observed in CAP and GTBank, as year-to-date losses now stand at -4.61%.
- Nairametrics, anticipate low market volatility in the coming days, on the basis that a relative amount of institutional investors remain on the sidelines.
I am impressed with Nairamerics. They have carved a niche.