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Stock Market

Nigerian Stocks hit record high, triggered by GTBank, Dangote Cement

DANGSUGAR led 31 Gainers as against 11 Losers topped by MANSARD at the end of today’s session

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Nigerian Stock Exchange, NSE: Return of the Bulls, Bulls reign at the bourse as stocks gain N460.69 billion on Wednesday, Okomu, UACN, Ekocorp top gainers list on Friday, Stock Market closed the week bullish as ASI grew 0.94% , Investors gain N41.94 billion on Tuesday as Bulls make rebound, NSE: Bearish trade costa investors N12.2 billion on Tuesday, NEM, Mansard, First Bank lead gaining stocks as ASI grew 0.61%, Nigerian bourse breathes a sigh of relief, index up 0.17%, Bulls charged Nigerian bourse, ASI Index up 1.09% investors gain N128.49 billion, Bulls stage comeback has ASI up 0.19%, investors gain N21.86 billion, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls dominate Nigerian bourse investors gain N162 billion

Nigerian Stocks ended the last trading session on a bullish note. The All Share Index gained by 0.90% to close at 31,016.17 points as against -0.01% depreciation recorded on Thursday.

Its Year-to-Date (YTD) returns currently stands at +15.55%.

  • Nigerian trading turnover went up on Friday, as volume ticked up by +8.21% compared to the +50.16% uptick recorded on Thursday. OMOMORBNK, FBNH, and STERLNBANK were the most active to boost market turnover.
  • PRESCO leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed positive as DANGSUGAR led 31 Gainers as against 11 Losers topped by MANSARD at the end of today’s session – an improved performance when compared with the previous outlook.

Top Gainers

  • DANGSUGAR up 6.11% to close at N16.5
  • GUINNESS up 5.74% to close at N17.5
  • GUARANTY up 3.72% to close at N33.5
  • DANGCEM up 3.25% to close at N174.5
  • PRESCO up 1.67% to close at N67

Top Losers

  • MANSARD down 9.09% to close at N2
  • NEM down 8.07% to close at N2.05
  • BUACEMENT down 5.39% to close at N43
  • FLOURMILL down 1.45% to close at N27.2
  • OANDO down 2.17% to close at N2.7

Outlook
Nigerian bourse ended the last trading session on a bullish note. Buying pressure was significantly noticed in leading Blue-chip stocks like GTBank, Dangote Cement, and Guinness.

  • Nigerian Stock Exchange market capitalization reached its highest point this year as it breached above N16.207 Trillion.
  • Nairametrics envisage cautious buying amid rising COVID-19 caseloads seen in Nigeria’s vital markets – most specifically Europe.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Markets

Bullish dominance in the NGX Banking Index

The NGX Banking Index made a bullish recovery at the end of yesterday’s trading session with an increase of +1.11%, pushing the index points to 354.25.

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gtbank, stock market, Bulls dominate Nigerian bourse ASI up 0.74%, Investors gain N77 billion., Crude oil bulls lose steam, as COVID-19 cases hit record high

The NGX Banking Index made a bullish recovery at the end of yesterday’s trading session with an increase of +1.11%, pushing the index points to 354.25. There were 5 profits opposing 5 losses, but the magnitude of the gainers pushed the Banking Index into the green.

Union Bank led the gainers with a profit of +0.45, pushing its price upwards from N4.95 to N5.40.

Zenith Bank came second amongst the gainers with a profit of +1.14%, posting N22.20 from the previous day’s close of N21.95.

Guaranty Trust Bank also closed in profits with an increase of +0.86%, leaving its price at N29.40 from its previous price of N29.00. Sterling Bank was also part of the gainers with a profit of +0.63% putting its price at N1.60 from its previous close of N1.58.

Access Bank made profits of 0.62%, pushing its prices to N8.15 from N8.10.

Wema Bank was the biggest loser at the end of yesterday’s trading session as it made losses of -4.92%, leaving its price at N0.58 from N0.61.

Jaiz Bank also made losses of -3.23%, pushing its closing price to N0.63 from N0.62 obtained the previous day.

Ecobank joined the losers, posting a loss of -1.89% which put its price at N5.20 from its previous price of N5.30.

Fidelity Bank followed with a loss of -0.90%, putting its price at N2.24 from N2.22. UBA also posted a loss of -0.69%, pushing its price from N7.25 to N7.20.

Outlook

  • Market sentiment tends bullish as the magnitude of gainers outweighed the losers despite the 5 gainers and 5 losers held at the end of the trading session.
  • Nairametrics advises cautious buying amid growing uncertainties.

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Markets

Union Bank, LINKASSURE push NGX ASI into recovery

The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM.

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Nigerian stock exchange market made a bullish recovery on the last day of the week’s trading session. This surge was bolstered by gains made by UBN and LINKASSURE amongst others. The All-Share Index increased by +0.21% to close at 39,198.75 from 39,114.73.

  • Nigerian Stock Exchange market value currently stands at N20.48 trillion. Its Year-to-Date (YTD) returns currently stand at -2.66%.
  • The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM, showing a hint of consolation.

Top gainers

  1. LINKASSURE up +9.25% to close at N0.69
  2. JOHNHOLT up +9.26% to close at N59
  3. UBN up +9.09% to close at N5.40
  4. ROYALEX up +8.33% to close at N0.65
  5. CHIPLC up +8.33% to close at N0.39

Top losers

  1. NEM down -9.50% to close at N1.81
  2. COURTVILLE down -9.09% to close at N0.20
  3. SUNUASSUR down -8.47% to close at N0.54
  4. INITSPLC down -6.98% to close at N0.40
  5. ETERNA down -6.89% to close at N5.81

Outlook

The market recovered from a week-long loss as it posts profit at the end of the trading session.

  • Market sentiments tend toward bullish momentum as the NGX ASI closes with 25 Gainers and 16 losers.
  • Nairametrics however, advises cautious buying in this era of growing uncertainties.

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