Nigerian Stocks on a grand slam win, investors gain N213 billion

Nigerian stock market closed today on a bullish note.

The All Share Index gained by +1.03% to close at 39,512.31 index points as against the +0.80% surge recorded on Tuesday. Its Year-to-Date (YTD) returns currently stands at +47.20%.

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• Nigerian Stock Exchange capitalization presently stands at N20.660 Trillion. Investors gained N213 Billion
• Nigerian bourse turnover dipped lower at Wednesday’s trading session as volume moved down by -48.39% as against the +72.38% uptick recorded in the previous session.
• The market breadth closed positive as BUACEMENT led 23 Gainers as against 19 Losers topped by FLOURMILL at the end of today’s session an improved performance when compared with the previous outlook.
• FIDSON leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.

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Top gainers

1. BUACEMENT up 10.00% to close at N70.4
2. INTBREW up 10.00% to close at N6.49
3. ETERNA up 10.00% to close at N5.61
4. CILEASING up 9.74% to close at N4.73
5. NEM up 9.40% to close at N1.63

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Top losers

1. FLOURMILL down 5.45% to close at N26
2. UBN down 5.36% to close at N5.3
3. ACCESS down 2.23% to close atN8.75
4. GUINNESS down 1.55% to close at N19
5. GUARANTY down 0.61% to close at N32.5

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Outlook

Nigerian Stocks recorded impressive gains at the second trading session of the week, as investors increased their buying pressure, especially buying medium capitalized stocks.

However, Nairametrics, envisage cautious buying, amid stringent capital controls set in place by Nigeria’s Apex bank that could trigger lower Foreign Portfolio participation in the future.