Nigerian stocks were all fired up at the fourth trading session of the week. The All Share Index surged beyond the set threshold of 5%, triggering a 30-minute trading halt of all stocks. The benchmark – All Share Index (ASI) surged by 6.23% to close at 35,342.23 points. Investors also gained N1.083 trillion to close market capitalization at N18.46 trillion, while the Year-to-Date (YTD) returns stood at +28.58%.
A total volume of 1.192 billion units of shares valued at N17.39billion exchanged hands in 10,704 deals. ZENITHBANK was the most traded shares by volume and valued at 161.30million units and 4.42billion respectively.
- The market breadth index was positive with 65 gainers against 8 losers. CADBURY, JBERGER, PRESCO, BUACEMENT, and AIRTELAFRI all gained 10.00% to led the gainer’s chart today, while ETERNA (-9.86%) topped the laggards.
- Sectors’ performance was significantly bullish – The Industrial and Banking sectors recorded the largest gains as they appreciated by 8.65% and 7.94%. Likewise, the Banking, Consumer, and Industrial sectors also trailed advancing by 5.81%, 4.78%, and 1.98% respectively.
Sector performance
- NSE Industrial Index: Surge by 8.65% due to the appreciation recorded in BUACEMENT (+10.00%), WAPCO (+9.86%), and DANGCEM (+8.11%)
- NSE Banking Index: Up by 7.94%, as positive sentiment persists in STERLNBANK (+10.00%), ZENITHBANK (+9.96%), UBN (+9.84%), and WEMABANK (+9.76%).
- NSE Consumer Goods Index: Increase by 5.81%, as CADBURY (+10.00%), DANGSUGAR (+9.77%), NB, and UNILEVER (+9.76%) closed north.
- NSE Insurance Index: Advanced by +4.78%, on price appreciation in CUSTODIAN (+9.82%), MANSARD (+9.55%), and AIICO (+6.38%).
- NSE Oil & Gas Index: Improved by 1.98%, due to gains in OANDO (+9.78%), and ARDOVA (+9.70%).
Top gainers
- NESTLE up 3 57% to close at N1450
- AIRTELAFRI up 10.00% to close at N451.2
- DANGCEM up 8.11% to close at N200
- PRESCO up 10.00% to close at N79.75
- NB up 9.74% to close at N63.1
Top losers
- ETERNA down 9.86% to close at N4.57
- GSPECPLC down 9.89% to close at N4.19
- MAYBAKER down 9.72% to close at N3.25
- NEM down 2.22% to close at N2.2
- MORISON down 9.26% to close at N0.49
Outlook
Nigerian Stocks recorded its highest daily gain in 2020, amid soaring crude oil prices.
- NSE30 Stocks most especially Dangote, Nigerian Breweries, Airtel Africa, increased the bullish trend at unprecedented levels as Nigerian Stocks continues to attract institutional funds at a steady pace and the ultra-low rate environment seen lately in the debt market encouraged investors to invest more in local stocks exhibiting good fundamentals.
- Nairametrics recommend you seek the advice of a Stockbroker amid price volatility presently prevailing at medium and large capitalized stocks.