The Nigerian Stock Market continued positive momentum as investors maintained bullish sentiments on major blue-chip stocks. The All Share Index (ASI) advanced further by 1.90% to close at 33,268.36 points. Investors gained N324.63 billion to close market capitalization at N17.38 trillion while the Year-to-Date (YTD) returns stood at +22.35%.
A total volume of 858.1 million units of shares, valued at N9.06billion exchanged hands in 8,142deals. FBNH was the most traded shares by volume at 145.0 million units, while ZENITHBANK topped by value with 1.52 billion.
The market breadth index was positive with 51 gainers against 7 losers. GUINNESS (+10.00%) led the gainer’s chart today, while LEARNAFRICA (-4.76%) topped the laggards.
- Across sectors, five of the indexes under our coverage gained. The Banking and Consumer Goods sectors recorded the largest gains as they appreciated by 4.07% and 2.56%. Likewise, the Banking, Consumer, and Industrial sectors also trailed advancing by 2.56%, 1.19%, and 1.14% respectively.
- NSE Banking Index: Up by 4.07%, as positive sentiment persists in STERLNBANK (+10.00%), WEMABANK (+9.33%), ETI (+7.26%), and UBN (+5.17%).
- NSE Consumer Goods Index: Increase by 2.56%, as GUINNESS (+10.00%), NASCON (+9.71%), NB (+9.52%) and PZ (+9.09%) closed north.
- NSE Oil & Gas Index: Advanced by 1.27%, due to gains in OANDO (+9.82%) and ARDOVA (+3.82%).
- NSE Insurance Index: Improved by +1.19%, on price appreciation in REGALINS (+8.33%) and CORNERST (+3.33%).
- NSE Industrial Index: Rose by 1.14% due to the appreciation recorded in WAPCO (+3.81%) and BUACEMENT (+2.42%)
- GUINNESS up 10.00% to close at N20.9
- NASCON up 9.71% to close at N16.95
- NB up 9.52% to close at N57.5
- PRESCO up 5.84% to close at N72.5
- MTNN up 2.43% to close at N160
- LEARNAFRCA down 4.76% to close at N1
- CILEASING down 4.65% to close at N4.1
- STANBIC down 4.17% to close at N46
- LINKASSURE down 4.08% to close at N0.47
- REDSTAREX down 3.68% to close at N3.4
Nigerian stocks got fired up amid soaring oil prices at the mid-week trading session.
- Buying pressure was significantly seen across leading NSE 30 Stocks like MTN Nigeria ], Guinness and not forgetting Nigerian Breweries kept the bullish momentum all fired up.
- Nairametrics, however, envisages cautious buying as the COVID-19 crisis seems to be getting out of hand in Nigeria’s key international markets that include Western Europe and the United States.