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MTN Nigeria, Dangote, Oando up, Nigerian Stock Exchange gains 37% in 365 days

The market breadth closed positive as OANDO led 31 Gainers as against 7 Losers topped by CILEASING at the end of today’s session.

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Nigerian Stock Exchange closed Friday’s trading session on a bullish note. The All Share Index gained by +1.56% to close at 36,804.75 index points as against +2.10% appreciation recorded on Thursday.

Nigerian Stock Exchange capitalization now stands at N19.24 Trillion. Its Year-to-Date (YTD) returns currently stands at +37.12%.

  • Nigerian bourse trading turnover at the last trading session for the week ticked up closes volume gained 24.07% as against 47.18% plunge recorded on Thursday. NIGERINS, GUARANTY, and MANSARD were the most active to boost market turnover.
  • The market breadth closed positive as OANDO led 31 Gainers as against 7 Losers topped by CILEASING at the end of today’s session – an improved performance when compared with the previous outlook.

Top gainers

  1. OANDO up 9.79% to close at N3.14
  2. ARDOVA up 7.92% to close at N14.3
  3. DANGCEM up 4.75% to close at N209.5
  4. MTNN up 3.23% to close at N160
  5. GUINNESS up 2.15% to close at N19

Top losers

  1. CILEASING down 9.83% to close at N4.31
  2. LASACO down 6.25% to close at N0.3
  3. LINKASSURE down 2.17% to close at N0.45
  4. UCAP down 1.27% to close at N4.65
  5. MAYBAKER down 1.03% to close at N3.85

Outlook
Nigerian stocks got fired up amid falling oil prices at the last trading session of the week.

  • Buying pressure was significantly seen across leading NSE 30 Stocks like MTN Nigeria, Dangote rallied close to their 52 weeks high amid the prevailing bullish momentum.
  • Nairametrics, however, envisages cautious buying as the COVID-19 crisis seems to be getting out of hand in Nigeria’s key international markets, that includes Western Europe and the United States amid the rollout of COVID-19 vaccines.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Nairametrics | Company Earnings