Nigerian stock market witnesses a bullish run on Monday as market capitalization value appreciated by N641.96 billion. The All-Share Index (ASI) increased by 3.96% to close at 32,243.05 points. Similarly, the overall market capitalization size gained N641.96 billion to close at N16.847 trillion.
Also, the total volume traded increased to 636.01 million shares, worth N8.24billion, traded in 7,210 deals. Transactions in the shares of Zenith Bank topped the activity chart with 70.2 million shares valued at N1.66 billion. FBNH followed with 67.65 million shares worth N474.5 million.
- The equities market breadth closed positive as 49 stocks posted gains while 11 stocks posted declines. WAPCO (+10.00%) led the gainer’s chart for the day, while NCR (-10.00%) finished the top loser.
- Sector performance was bullish as all indices appreciated, led by a striking 6.59% gain in the Banking Index.
- NSE Banking Index: Recorded an impressive 6.59% gain, on buy interest in STERLNBANK (+9.89%), FIDELITY +9.77%), FCMB (+9.35%), and ZENITHBANK (+7.40%).
- NSE Industrial Index: Up 5.54%, on WAPCO (+10.00%), and DANGCEM (+6.02%) upturn.
- NSE Insurance Index: Advanced by 1.57%, on the price increase in MBENEFIT (+10.00%), LINKASSURE (+9.76%), and MANSARD (+4.00%).
- NSE Consumer Goods Index: Improved by 1.78%, on buy interest in DANGSUGAR (9.70%) and INTBREW (+6.15%).
- NSE Oil & Gas Index: Gained 0.98%, on the back of price appreciation in OANDO (+10.00%) and ARDOVA (+6.32%).
Today’s market upturn was impacted by gains recorded in large and medium capitalized stocks which includes DANGCEM, WAPCO, MTNN, GUARANTY, and ZENITH BANK.
- WAPCO up 10.00% to close at N21.45
- DANGCEM up 6.02% to close at N185
- GUARANTY up 5.22% to close at N35.25
- BUACEMENT up 4.42% to close at N44.9
- MTNN up 4.24% to close at N150.1
- NCR down 10.00% to close at N1.8
- LEARNAFRCA down 8.70% to close at N1.05
- CONOIL down 6.30% to close at N17.85
- PZ down 3.13% to close at N4.65
- AFRIPRUD down 1.45% to close at N6.11
Nigerian Stocks were all fired up amid favorable market conditions seen across global financial markets, as Nigerian’s major export earning product (Crude oil) recorded impressive gains.
- Buying pressure at Nigerian Stock Market at the first trading session got intensified, as institutional investors increased their buying pressure on Nigerian blue-chip stocks; not forgetting Dangote Cement with its recent impressive earning result, kept the bulls roaring high as market confidence across market spectrum improved.
- However, Nairametrics, envisage you seek the advice of a certified stockbroker on choosing Stocks to buy, on the bias that some Nigerian Stocks exhibit cyclic returns.
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.
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.
- 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.
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.
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.
- LINKASSURE up +9.25% to close at N0.69
- JOHNHOLT up +9.26% to close at N59
- UBN up +9.09% to close at N5.40
- ROYALEX up +8.33% to close at N0.65
- CHIPLC up +8.33% to close at N0.39
- NEM down -9.50% to close at N1.81
- COURTVILLE down -9.09% to close at N0.20
- SUNUASSUR down -8.47% to close at N0.54
- INITSPLC down -6.98% to close at N0.40
- ETERNA down -6.89% to close at N5.81
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.
Nairametrics | Company Earnings
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- Okomu Oil proposes dividend worth N6.7 billion for shareholders.
- Ardova Plc confirms appointment of Oladeinde Nelson-Cole as secretary.
- Cadbury Nigeria Plc set to hold 56th Annual General Meeting (AGM) on June 16.
- FCMB Group Plc appoints Muibat Ijaiya as Director.
- Afromedia Plc reports a loss after tax of N27.3 million in Q1 2021.