Nigerian bourse ended Tuesday’s trading session on a positive note. The All Share index gained 0.64% to close at 34,340.56 points as against the 0.04% drop recorded on Monday. Its Year-to-Date (YTD) returns currently stands at +27.94%.
- Nigerian Stocks trading turnover cumulatively tanked lower, as trading volume dipped by 35.67% as against +64.69% uptick recorded on Monday. ZENITH BANK, TRANSCORP and GUARANTY were the most active to boost market turnover.
- The market breadth closed positive as STANBIC led 25 Gainers as against 16 Losers topped by ETERNA at the end of today’s session – an improved performance when compared with the previous outlook.
- CILEASING leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
Top gainers
- STANBIC up 7.08% to close at N42.35
- UBA up 6.49% to close at N8.2
- ACCESS up 5.70% to close at N8.35
- FBNH up 6.72% to close at N7.15
- UPDCREIT up 9.64% to close at N4.55
Top losers
- ETERNA down 9.98% to close at N4.15
- FIDSON down 9.81% to close at N4.87
- JBERGER down 8.95% to close at N17.3
- UACN down 3.77% to close at N7.65
- GUINNESS down 2.78% to close at N17.5
Outlook
Nigerian Stocks soared higher at the second trading session of the week, coupled with Africa’s largest exporting earning product, crude oil reaching its highest level since March.
- Significant buying pressure from Nigerian tier-1 banks which include First Bank, UBA, Stanbic, rallied Nigerian Stocks north, on the bias showing Nigeria’s apex bank in its just-concluded monetary policy meeting retained the monetary policy rate and cash reserve ratio.
- Nairametrics envisages cautious buying amid reports that still show COVID-19 pandemic will remain on the major headlines, at least in the near term.