The Nigerian Stock market kept its bullish momentum on at mid week’s trading session. The All Share Index gained 1.25% to close at 34,769.00 points, as against +0.64% recorded yesterday. Investors daily gain stood at N223.8 Billion.
Nigerian Stock Exchange capitalization now stands at N18.176 Billion. Its Year-to-Date (YTD) returns currently stands at +29.53%.
Nigerian bourse trading turnover on Wednesday finished fairly impressive as volume ticked up by 19.02%, as against -35.67% downtick recorded on Tuesday. TRANSCORP, ZENITHBANK, and ACCESS were the most active to boost market turnover.
MANSARD leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
The Market breadth closed positive as FLOURMILL led 36 Gainers as against 11 Losers topped by TRANSEXPR at the end of today’s session – an improved performance when compared with the previous outlook.
Nigerian Stocks were fired up on all cylinders as the bulls increased their buying pressure across the market spectrum.
Stock bulls were not short of good macros, as crude oil prices touched $48/barrel for the first time since March, coupled with recent macros coming from COVID-19 vaccine makers revealed the worse will soon be over.
Dangote Cement’s share price reached its 52 week high, amid significant buying pressure seen lately from institutional funds. Also, other NSE30 stocks pulled off notable gains.
Nairametrics recommends you seek the advice of a registered stockbroker when choosing stocks to buy, as recent price patterns show cyclic returns often prevail.