Stock Market
Industrial Stocks fade off gains from GTBank, First Bank
Market breadth closed positive as TRANSCORP led 18 Gainers as against 17 Losers topped byAFRIPRUD at the end of today’s session.
Nigerian stocks ended the fourth trading session of the week on a slightly bearish note. The All Share Index dropped by 0.01% to close at 30,738.92 points as against +0.03% appreciation recorded on Wednesday.
- Its Year-to-Date (YTD) returns currently stands at +14.52%. Nigerian Stock Exchange capitalization presently stands at N16.06 Trillion. Investors were down by N6.27 Billion.
- The Nigerian bourse trading turnover printed positive as volume gained by 50.16% as against a plunge of 14.77% downtick recorded on Wednesday trading session.
- FBNH, BUACEMENT, and ACCESS were the most active to boost market turnover.
- Market breadth closed positive as TRANSCORP led 18 Gainers as against 17 Losers topped by AFRIPRUD at the end of today’s session – an improved performance when compared with the previous outlook.
- BUACEMENT leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
READ: Nigerian stocks record gains, investors gain N132.8 billion
Top Gainers
- AFRIPRUD up 9.35% to close at N6.2.
- UNILEVER up 2.92% to close at N14.1.
- FBNH up 2.38% to close at N6.45.
- NASCON up 0.72% to close at N14.05.
- GUARANTY up 0.62% to close at N32.3.
READ: U.S dollar up, U.S GDP expands at record 33.1%
Top Losers
- FIDSON down 6.82% to close at N4.1.
- INTBREW down 5.80% to close at N6.5.
- UBN down 3.64% to close at N5.3.
- FLOURMILL down 2.82% to close at N27.6.
- GLAXOSMITH down 1.69% to close at N5.8.
READ: Nigerian Stock market records sixth consecutive losses, investors lose N15.55 billion
Outlook
Nigerian Stocks cumulatively halted their bullish run amid falling oil prices and strong bias that Nigeria’s major export earning product,(crude oil) might suffer under a Joe Biden Presidency.
- Selling pressure from some leading Industrial brands neutralized gains recorded in a few blue-chip banks that include First bank and GTBank amid an impressive trading volume turnover seen across the market spectrum.
- Nairametrics envisages cautious buying as some bellwether stocks experience significant selling pressures amid profit-taking presently prevailing.
Markets
Bears take hold of the NSE Banking index
The NSE Banking Index finished red with a loss of -0.52%.
The NSE Banking Index traded bearish at the end of the trading session today. 6 banks posted Gains and 4 Losses were recorded. The NSE Banking Index finished red with a loss of -0.52% adding to the -0.97% held in the previous trading session. The index dropped to 343.03 index points at the close of trading activities today.
Sterling Bank posted a substantial loss of -9.76% adding to the -0.61% held at the previous trading session pushing the price downwards from N1.70 to N1.49 and leading the top losers in the NSE Banking index.
Zenith Bank also saw another loss of -1.38% adding to the -0.91% held in the previous session pushing the price from N22.00 to N21.80.
Jaiz Bank lost some profit from the +6.67% held in the previous trading session by posting a loss of -1.56% settling the price at N0.63.
Fidelity Bank broke the stalemate held at the previous trading session to post a loss of -2.83% settling the price at N2.39 from N2.47.
Union Bank posted profits of +2.20% to settle the price at N4.65.
UBA also made gains of +2.21% pushing the price downwards to N6.95 from N6.80.
Wema Bank recovered from the decline in the previous session to post gains of (+1.79%) pushing the price to N0.58 from N0.55.
GT Bank also posted a profit of +1.39% moving price from 28.75 to N29.15.
Access Bank made a decisive move from its stalemate position with gains of +0.66% settling the price at N7.60.
Ecobank made profits of (+1.04%) settling the price at N4.90.
Outlook
- Market sentiment trends towards recovery as 6 companies in the NSE Banking Index made gains as opposed to 4 losses at the end of the trading session today.
- Nairametrics advises cautious participation in the market amid growing uncertainties in Nigeria.
Markets
Nigerian stocks make recovery as JAPAULGOLD drops
The All-Share Index increased by +0.61% to close at 38,808.01 from 38,571.89 index points.
