Nigerian Stock market ended the first trading session on an impressive note.
The All Share Index gained +0.80% to close at 39,110.17 index points as against the -0.01% drop recorded at the last trading session (Thursday).
READ: CBN will continue monetary policy aimed at boosting stock market
- Its Year-to-Date (YTD) returns are currently at +45.70%. Nigerian Stock Exchange market capitalization now stands at N20.447 trillion.
- Also, the Nigerian bourse trading turnover on Tuesday soared higher as market turnover closes rallied up by 72.38% as against the 73.97% plunge recorded on Thursday. AIICO, OANDO, and FBNH were the most active to boost market turnover.
- The market breadth closed negative as NEM led 18 Gainers as against 20 Losers topped by NCR at the end of today’s session – an unimproved performance when compared with the previous outlook.
READ: What to expect from Nigeria’s capital market in 2021
For context read: Nigerian Stocks drop despite Airtel Africa hitting an all-time high
Top gainers
- NEM up 9.56% to close at N1.49
- NPFMCRFBK up 8.39% to close at N1.68
- BUACEMENT up 6.67% to close at N64
- ACCESS up 4.07% to close at N8.95
- ZENITHBANK up 2.04% to close at N25
READ: NSE launches X-PO, first end-to-end public offering subscription platform in Africa
Top losers
- NCR down 9.68% to close at N1.96
- CAP down 2.44% to close at N20
- FLOURMILL down 1.61% to close at N27.5
- GUINNESS down 1.03% to close at N19.3
- GUARANTY down 0.30%to close at N32.7
READ: Airtel Africa to sell its 4,500 tower assets to cut down $3.5 billion debts
Outlook
Nigerian stocks are headed for their best annual gain in about seven years amid soaring oil prices at the US trading session.
The Nigerian All-Share index in Africa’s largest economy recorded its best return, rising 45.7% this year, the most among 93 equity indexes tracked by Bloomberg. It’s the world’s best-performing stock market year-to-date.
READ: Dangote Cement, MTN, Nigerian Breweries, 9 others raise N478.4 billion from commercial papers
- NSE30 Stocks, most especially Dangote, Airtel Africa, BUA cement increased the bullish trend at unprecedented levels, as Nigerian Stocks continues to attract institutional funds at a steady pace and the ultra-low rate environment seen lately in the debt market encouraged investors to invest more in local stocks exhibiting good fundamentals.
- Nairametrics recommends you seek the advice of a Stockbroker amid price volatility presently prevailing at medium and large capitalized stocks.
Hey, could you share a link to the Bloomberg ranking?