Nigerian Stocks witness another positive at the mid-week trading session. Nigerian Stock Exchange capitalization value appreciated by N140.04 billion.
The All-Share Index (ASI) rallied up by 0.76% to close at 35,493.15 points. Similarly, the overall market capitalization size gained N140.04 billion to close at N18.55 trillion.
- Today’s market upturn was impacted by gains recorded in large and medium capitalized stocks, amongst which includes; NESTLE, FLOURMILL, GUINNESS, GUARANTY, and ZENITHBANK.
- Also, the total volume traded increased to 650.54 million shares, worth N2.28billion, traded in 3,952 deals.
- Transactions in the shares of JAIZ Bank topped the activity chart with 414.9 million shares valued at N216 million. MANSARD followed with 22.3 million shares worth N17.1 million.
- The equities market breadth closed positive as 29 stocks posted gains while 13 stocks posted declines. NESTLE led the gainer’s chart for the day, while OANDO was the top loser.
Top gainers
- NESTLE up 7.50% to close at N1505
- FLOURMILL up 7.29% to close at N26.5
- GUINNESS up 3.33% to close at N18.6
- ZENITHBANK up 2.55% to close at N24.1
- GUARANTY up 1.19% to close at N33.95
Top losers
- OANDO down 3.45% to close at N2.8
- UCAP down 3.08% to close at N4.4
- WAPCO down 2.22% to close at N22
- NNFM down 1.13% to close at N6.13
- DANGSUGAR down 0.56% to close at N17.9
Outlook
Nigerian bourse was fired up at all cylinders amid falling oil prices across the market spectrum. NSE30 stocks saw high buying pressures as Nestle, GTBank, Zenith Bank recorded daily gains on Wednesday.
- Nigerian institutional investors seem to have increased their capital inflows to Nigerian Stocks on the prevailing low returns seen in the Nigerian debt market.
- Nairametrics, however, envisages cautious buying amid growing uncertainty in Nigeria’s key international market, growing COVID-19 caseloads in Europe, and soft energy demand in play at the world’s largest economy.
