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Home Spotlight

UBA, Zenith Bank keep Nigerian Stocks fired up, investors gain N36 billion

Olumide Adesina by Olumide Adesina
January 6, 2021
in Spotlight, Stock Market
Value of shares traded by top 10 stockbrokers up 133% despite COVID-19, investors, Raging Bulls lift Brent Crude price by 10%
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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

RelatedPosts

Gains from MTN Nigeria, 18 other stocks lift market activities to bullish stance

UBA to announce Oliver Alawuba as new MD/CEO

  1. BOCGAS up 9.52% to be close at N11.5
  2. FLOURMILL up 3.45% to be close at N27
  3. VITAFOAM up 2.86% to be close at N8.75
  4. UBA up 2.38% to be close at N8.6
    ZENITHBANK up 2.03% to be close at N25.1

Top Losers

  1. ETERNA down 8.17% to be close at N5.28
  2. HONYFLOUR down 6.25% to be close at N1.2
  3. NEIMETH down 5.09% to be close at N2.05
  4. PZ down 2.83% to be close at N5.15
  5. AFRIPRUD down 1.48% to be close at N6.65

Outlook

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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.

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