Nigerian bourse continued its bullish run as seen in the first trading session of the week. The All Share Index ticked up by 0.28%, to close at 28,777.96 points, with the year-to-date return at +7.19% and market capitalization at N15.04 trillion. Investors were up by N42.28 billion
- A total volume of 340.8 million units of shares, valued at N5.56billion exchanged hands in 4,235deals. GUARANTY was the most traded shares by volume and value at 56.7million and units and N1.73billion, while ZENITHBANK followed with 47.7million units and N1.01 billion respectively,
- The market breadth index was positive with 27 gainers against 15 losers. CUSTODIAN (+5.50%) led the gainer’s chart today, while NASCO (-8.39%) topped the laggards.
- Sector performance
- NSE Banking Index: Up by +1.01%, due to price appreciation in ETI (+7.69%), STERLNBANK (3.57%) and UBA (+2.13%).
- NSE Industrial Index: Up by +0.38%, on gains in DANGCEM (+0.66%) and WAPCO (+0.56%)
- NSE Oil & Gas Index: Improved slightly by +0.07%, as OANDO advanced by (+0.87%).
- NSE Insurance Index: Down by -0.99%, on price depreciation in CHIPLC (-8.82%) and WAPCO (-7.50%).
- NSE Consumer Goods Index: Down by -0.34% price decline in INTBREW (-4.60%).
- CUSTODIAN up 10.00% to close at N5.5
- ETI up 7.69% to close at N4.9
- FLOURMILL up 5.22% to close at N24.2
- GLAXOSMITH up 4.63% to close at N5.65
- DANGCEM up 0.66% to close at N152
- MORISON down 10.00% to close at N0.54
- NASCON down 8.39% to close at N13.1
- INTBREW down 4.60% to close at N6.01
- NAHCO down 2.38% to close at N2.05
- DANGSUGAR down 0.72% to close at N13.7
Nigerian Stocks recorded impressive gains amid falling crude oil prices.
- Investors increased their buying pressure on notable blue-chip stocks, most prevalently seen in Dangote Cement, Ecobank, and Flour mills.
- Investors are rushing into Nigerian Stocks on the hunt for alpha-yielding investments in the face of increasingly negative real returns in the debt market remain positive for Nigerian equities.
- That said Nairametrics advise investors to trade stocks that exhibit good fundamentals amid growing political uncertainty in spite of the fact that investors await Q3 earnings across the market spectrum.