The Nigerian Stock market was all fired up at Wednesday’s trading session.
The All Share index gained 2.40% to close at 38,803.74 index points as against +1.20% appreciation recorded on Tuesday. Its Year-to-Date (YTD) returns currently stands at +44.56%. Nigerian Stock Exchange market value now stands at N20.281 trillion.
- Nigerian trading turnover ended also on an impressive note as volume ticked up by 238.56% as against +3.55% uptick recorded on Tuesday. ACCESS, VERITASKAP, and FLOURMILL were the most active to boost market turnover.
- The Market breadth closed positive as AIRTELAFRI led 24 Gainers as against 7 Losers topped by FCMB at the end of today’s session – an improved performance when compared with the previous outlook.
- OMATEK leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
Top gainers
- AIRTELAFRI up 9.99% to close at N851.8
- BOCGAS up 9.85% to close at N8.7
- BUACEMENT up 9.09% to close at N60
- VITAFOAM up 7.14% to close at N7.5
- NB up1.82% to close at N56
Top losers
- FCMB down 3.97% to close at N2.9
- PZ down 3.64% to close at N5.3
- MANSARD down 3.00% to close at N0.97
- MAYBAKER down 0.79% to close at N3.75
- AFRIPRUD down 0.49% to close at N6.12
Outlook
Nigerian stocks recorded a hat-trick of gains this week amid, the high inflow of funds seen by Airtel, BUA Cement, Nigerian Breweries in recording their session highs despite the prevailing situation in the Nigerian currency market and the surging COVID-19 caseloads in Nigeria’s vital international markets.
- However, in spite of the recent bullish run, Nairametrics remain concerned about the relatively low amount of gains seen in a number of medium and low capitalized Nigerian stocks, as institutional investors rather prefer to buy more often into blue-chip stocks.
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