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.
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.