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Home Spotlight

Airtel, Dangote, WAPCO rebounds strongly, investors gain N310 billion

Olumide Adesina by Olumide Adesina
December 14, 2020
in Spotlight, Stock Market
investors, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls boost global financial market, gold hits 7 years high, Dangote, Tier-1 banks lead the bulls to close Nigerian stock market green
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Nigerian Stocks end the first trading session of the week on a positive note. The All Share Index gained +1.73% to close at 34,843.44 points as against a 0.94% drop recorded last Friday.

READ: $1.3 billion Malabu oil field sale was lawful – Former Shell Executive

  • Nigerian Stock market Year-to-Date (YTD) returns presently stands at +29.81%. Nigerian Stock Exchange market capitalization currently stands at N18.2 trillion. Investors gained N309.78 billion.
  • However, Nigerian Stocks trading turnover on Monday ended bearish as volume dipped by 73.86% as against the +43.71% surge recorded last Friday. ZENITH BANK, GUARANTY, and ACCESS were the most active to boost market turnover.
  • The market breadth closed positive as AIRTELAFRI led 26 Gainers as against 14 Losers topped by INTBREW at the end of today’s session – an improved performance when compared with the previous outlook.

READ: Here’s why Leadway Pensure PFA should manage your Retirement Savings Account

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NGX’s top 3 gainers for the month of June 2022

Bullish Nigerian Exchange gains N5.64 trillion in HY’2022

Top Gainers

  1. AIRTELAFRI up 10.00% to close at N704
  2. BOCGAS up 6.35% to close at N7.2
  3. GUINNESS up 3.82% to close at N17.65
  4. DANGCEM up 2.73% to close at N188
  5. WAPCO up 2.19% to close at N21

READ: Union Diagnostics calls shareholders to update records with company registrars

Top Losers

  1. INTBREW down 9.89% to close at N6.47
  2. CUTIX down 9.47% to close at N1.72
  3. NASCON down 9.38% to close at N14.5
  4. ARDOVA down 6.51% to close at N12.2
  5. UBN down 5.50% to close at N5.15

READ: Airtel Africa posts an all-time high, investors gain N82 billion

Outlook
Nigerian Stocks against headwinds continued its bullish trend, amid crude oil prices trading above $50/barrel at the U.S trading session.

  • Buying pressure from Industrial Stocks and Telcom stocks, particularly Airtel Africa kept the bullish run in the play, amid significant sell-offs seen in some notable Nigerian stocks like Union Bank, International Breweries.
  • Nairametrics envisage you seek the advice of a certified stockbroker or financial advisor in choosing stocks to buy, as some Nigerian stocks exhibit cyclic returns.

READ: Airbnb co-founder, Brian Chesky gains over $7 billion in just a few days

Related

Tags: Airtel AfricaAll Share IndexDangoteinternational breweriesNigerian Stock ExchangeNigerian StocksUnion Bank

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