Nigerian stock market closed higher as reflected by the All-Share Index benchmark which advanced by 1.20% to 37,893.61 points. Year-to-date return and market capitalization settled at N19.80 trillion and 40.7%, respectively.
- A total volume of 442.2 million units of shares, valued at N10.2billion exchanged hands in 4,948 deals. The most traded stocks by volume were ZENITHBANK (90.1 million units), MANSARD (39.3 million units), and GUARANTY (38.2 million units), while ZENITHBANK (N1.44 billion) and GUARANTY (1.26 billion) topped the value chart.
- The equities market breadth was inverse of the broad index with 22 decliners against 15 advancers. REDSTAREX (-9.62%) led the laggards today, while ETERNA (+10.00%) closed as the top gainer.
- Performance across our courage sectors was mixed with 2 advancers to 3 decliners. Leading the gainers are the NSE Industrial good with (+3.35%), while the lenders trailed distantly by (+0.06%).
- On the flip side, the Insurance, Oil & Gas and Consumer goods indices fell marginally by (-0.45%), (-0.33%) and (-0.24%) respectively.
Top gainers
- ETERNA up 10.00% to close at N4.51
- DANGCEM up 6.34% to close at N245
- CADBURY up 4.05% to close at N9
- UBA up 2.44% to close at N8.4
- ZENITHBANK up 0.82% to close at N24.5
Top losers
- REDSTAREX down 9.62% to close at N3.1
- CAP down 4.75% to close at N19.05
- VITAFOAM down 3.45% to close at N7
- WAPCO down 2.22% to close at N22
- GUARANTY down 1.49% to close at N33
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 remained above $50 amid recent macros revealing a new strain of COVID-19 virus.
- Dangote Cement’s stock price lifted Nigerian Stocks significantly up, 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.
