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.
READ: Nigerian stocks record gains, investors gain N132.8 billion
Top gainers
- FLOURMILL up 9.84% to close at N27.9
- JBERGER up 6.94% to close at N18.5
- DANGSUGAR up 5.90% to close at N20.65
- DANGCEM up 2.60% to close at N205
- AIRTELAFRI up 1.90% to close at N535
READ: MTN Nigeria, GTBank drop amid profit-taking
Top losers
- TRANSEXPR down 9.38% to close at N0.87
- OANDO down 6.55% to close at N2.71
- INTBREW down 5.76% to close at N6.55
- CAP down 2.93% to close at N21.5
- UBN down 1.69% to close at N5.8
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.
