Nigerian Stocks ended the mid-week trading session on a positive note. The All Share Index gained by +0.17% to close at 40,465.15 index points as against the 1.83% plunge recorded yesterday. Nigerian Stock Exchange market value stands at N21.15 trillion.
Its Year-to-Date (YTD) returns currently stands at +0.48%. Investors gained N36.08 billion
- Nigerian bourse trading turnover ended bearish at Wednesday’s trading session as volume dipped by 46.41% as against +119.73% uptick recorded on Tuesday. JAPAULOIL, ACCESS, and MANSARD were the most active to boost market turnover.
- The Market breadth closed positive as BOCGAS led 22 Gainers as against 16 Losers topped by ETERNA at the end of today’s session – an improved performance when compared with the previous outlook.
Top Gainers
- BOCGAS up 9.52% to be close at N11.5
- FLOURMILL up 3.45% to be close at N27
- VITAFOAM up 2.86% to be close at N8.75
- UBA up 2.38% to be close at N8.6
ZENITHBANK up 2.03% to be close at N25.1
Top Losers
- ETERNA down 8.17% to be close at N5.28
- HONYFLOUR down 6.25% to be close at N1.2
- NEIMETH down 5.09% to be close at N2.05
- PZ down 2.83% to be close at N5.15
- AFRIPRUD down 1.48% to be close at N6.65
Outlook
Nigerian Stocks recorded impressive gains at the fourth trading session of the week, as investors increased their buying pressure on medium capitalized stocks.
- Nigerian’s crude, at the time of writing, sold at $54/barrel, its highest price level since Feb 2020.
- However, Nairametrics, envisages cautious buying, as stringent capital controls set in place by Nigeria’s Apex bank could trigger lower Foreign Portfolio participation.