Nigerian Stocks market rose today by 0.36% to 40,295.95 index points amid renewed buying activity on Tuesday.

Trading in the Nigerian Stock market started the day on a positive note, as investors gained N8.10 billion coupled with market capitalization settled at N21.06 trillion as against an opening of N20.99 trillion.

  • Consequently, Year-to-Date (YTD) moderated to 0.06%.
  • The sectoral performance was positive as three out of the five indices tracked closed green; the NSE Insurance, NSE Industrial, and NSE Consumer Goods indices increased by 3.61%, 0.99 %, and 0.36% respectively.
  • On the flip side, the NSE Banking and Energy indices moderated by 0.62% and 0.05 respectively.
  • Activities at the Nigerian Stock Exchange (NSE) improved as the total volume traded increased. A total volume of 1.16 billion units of shares, valued at N7.96billion exchanged hands in 5,591 deals.
  • Market sentiment, as measured by market breadth, was also positive as 27 stocks gained, relative to 20 losers.

Top gainers

  1. NASCON up 10.00% to close at N15.95
  2. ARDOVA up 9.75% to close at N19.7
  3. MAYBAKER up 7.24% to close at N3.85
  4. DANGCEM up 2.22% to close at N230
  5. DANGSUGAR up 1.55% to close at N19.65

Top Losers

Other News

  1. OANDO down 5.41% to close at N3.5
  2. GUARANTY down 1.07% to close at N32.5
  3. JBERGER down 1.12% to close at N17.7
  4. UBA down 1.12% to close at N8.8
  5. MTNN down 0.12% to close at N165

Outlook

Nigerian Stocks recorded impressive gains amid soaring crude oil prices.

NASCON and Ardova Plc topped the gainers’ list having advanced by 10% and 9.75% respective growth, while Oando and Jberger recorded the largest losses of the day after depreciating by 5.41% and 1.12% respectively.

  • Investors are rushing into Nigerian Stocks on the hunt for alpha-yielding investments in the face of increasingly negative real returns in the debt market that remain positive for Nigerian equities.
  • That said, Nairametrics advises investors to trade stocks that exhibit good fundamentals amid growing political uncertainty in spite of the fact that investors await Q3 earnings across the market spectrum.