Nigerian Stocks win Grand slam, investors gain N390 billion

Nigerian Stocks extended their gains to fourth consecutive trading days, as the All-Share Index (ASI) advanced further by 2.10% to close the day at 36,239.62 points.

Market Capitalization gained N390.18 billion to settle at N18.94 trillion while the Year-to-Date (YTD) returns to print at 34.30%.

A total volume of 343.6million units of shares, valued at N4.34billion exchanged hands in 3,895 deals. FBNH was the most traded shares by volume and value at 99.38million units and 700million respectively.

• The market breadth index was positive with 30 gainers against 17 losers. AIRTELAFRI gained 10.00% to led the gainer’s chart today, while FCMB (-4.67%) topped the laggards.
• Sectorial performance improved as Insurance, Industrial, Banking, Oil & Gas and Consumer Goods appreciated by +2.36%, +1.28%, +1.11%, +0.62% and +0.23% respectively.
• NSE Insurance Index: Up by +2.36%, on price appreciation in MANSARD (+9.09%), REGALINS (+5.00%), and LASACO (+3.23%)
• NSE Industrial Index: Advanced by +1.28% due to the gain in DANGCEM (+2.56%).
• NSE Banking Index: Rose by 1.11%, on buy interest in ETI (+3.97%), UBN (+3.77%), and ZENITHBK (+2.70%).
• NSE Oil & Gas Index: Improved by +0.62%, as ARDOVA closed north by (+10.00%)
• NSE Consumer Goods Index: Gained +0.23%, due to bargain hunting in UNILEVER (+9.54%

Top gainers

1. AIRTELAFRI up 10.00% to close at N774.4
2. ARDOVA up 9.96% to close at N13.25
3. UNILEVER up 9.54% to close at N14.35
4. OKOMUOIL up 3.41% to close at N91
5. DANGCEM up 2.56% to close at N200

Top losers

1. FCMB down 4.67% to close at N2.86
2. FLOURMILL down 1.89% to close at N26
3. UACN down 1.33% to close at N7.4
4. GUARANTY down 0.59% to close at N33.75
5. WAPCO down 0.45% to close at N21.9

Outlook

Nigerian Stocks recorded impressive gains at the fourth trading session of the week, as investors increased their buying pressure, especially buying from dips across the market spectrum.

• Nigerian’s crude, at the time of writing, sold at $51/barrel its highest price level since March, helped in boosting the Nigerian central bank dollar cash inflows taking to consideration crude oil remains Nigeria’s major cash cow
• However, Nairametrics, envisage cautious buying, amid stringent capital controls set in place by Nigeria’s Apex bank could triggering lower Foreign Portfolio participation.