The Nigerian stock market maintained a bullish recovery as the trading session began this week. This surge was bolstered by gains made by UBN and AFRIPRUD amongst others. The All-Share Index increased by +0.29% to close at 39,312.74 from 39,198.75.

• The Nigerian stock exchange market value currently stands at N20.44 trillion. Its Year-to-Date (YTD) returns currently stand at -2.38%.
• The market breadth closed positive with the bulls as REGALINS led 28 Gainers and UNITYBNK topped the chart of 15 Losers showing a hint of consolation.

Top gainers

1. REGALINS up +9.68% to close at N0.34

2. ABCTRANS up +9.68% to close at N0.34

3. UBN up +9.26% to close at N5.90

4. LINKASSURE up +8.70% to close at N0.75

5. MBENEFIT up +8.11% to close at N0.40

Top losers

1. UNITYBNK down -8.33% to close at N0.55

2. JAPAULGOLD down -6.67% to close at N0.56

3. NEIMETH down -6.04% to close at N1.71

4. FLOURMILL down -4.84% to close at N29.50

5. NAHCO down -4.55% to close at N2.10

Outlook

The stock market maintained the recovery as Union bank and LINKASSURE made an appearance for the second consecutive time, pushing the NGX ASI upwards at the end of the trading session today.

• Market sentiments were bullish as the NGX ASI closed with 28 Gainers and 15 Losers.
• Nairametrics advises cautious buying in this era of growing uncertainties.

At the opening bell, the Dow Jones Industrial Index (DOW) hit an all-time high as the commodity and energy markets are bullish.

The DOW gained 7.5 points, or 0.02%, to open at 34785.27 index points. The S&P 500 fell 4.3 points, or 0.10%, to open at 4228.29, while the Nasdaq Composite dropped 64.6 points or 0.47% to open at 13687.595.

This represents an optimism that interest rates would remain lower for longer, while a surge in commodity prices lifted shares of miners, energy and steel companies.

More details soon…