Nigerian stocks were blue hot on Friday, as investors momentarily went bullish on most listed stocks. The All Share Index gained 3.71% to close at 30,530.69 points as against +1.58% appreciation recorded on Thursday.
- Nigerian Stock Exchange capitalization presently stands at about N16 trillion naira.
Its Year-to-Date (YTD) returns currently stands at +13.74%. - That said, Nigerian bourse trading turnover was very impressive at Friday’s trading session as volumed surged by +115.27% as against -2.68% downtick recorded on Thursday.
- UBA, ACCESS, and FBNH were the most active to boost market turnover. GUARANTY and STANBIC topped the market value list.
- Market breadth closed positive as NESTLE led 43 Gainers as against 11 Losers topped by PRESTIGE at the end of today’s session – an unimproved performance when compared with the previous outlook.
Top gainers
- NESTLE up 10.00% to close at N1421.7
- MOBIL up 9.98% to close at N196.1
- BUACEMENT up 9.90% to close at N45.5
- TOTAL up 9.25% to close at N129.9
- DANGCEM up 3.03% to close at N160
Top losers
- PRESTIGE down 10.00% to close at N0.54
- NAHCO down 5.41% to close at N2.1
- GUINNESS down 3.13% to close at N17
- PZ down 2.20% to close at N4.45
- ETI down 0.88% to close at N5.65
Outlook
Nigerian bourse was fired up at all cylinders amid falling oil prices across the market spectrum.
- NSE30 stocks saw high buying pressures as Total and Nestle recorded maximum daily gains on Friday.
- Nigerian institutional investors seem to be shifting more of their funds to Nigerian Stocks on the prevailing low returns seen in the Nigerian debt market.
- Nairametrics, however, envisage cautious buying amid growing uncertainty in Nigeria’s key international market, particularly Europe, where about 40% of Nigeria’s major oil earning comes from.
Follow us for Breaking News and Market Intelligence.
