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Home Spotlight

Telecom stocks reach record high, Nigerian stock market value hit N22 trillion

Olumide Adesina by Olumide Adesina
January 27, 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 bourse sustains the bulls today as the All-Share Index advanced further by 0.83% to close the day’s trading at 41,930.73 index points.

Consequently, the Nigerian Stock Exchange Year-to-Date Return stood at 4.08% to print market capitalization at N21.934 trillion.

  • Activity level was impressive as volume and value of trades increased. A total of 543 million units of shares valued at N7.321 billion exchanged hands in 6,770 deals.
  • Transnational Corporations continued to trend as the most traded stock with regards to volume with 57.2 million shares, while ZENITHBANK topped by value at N1.24 billion.
  • With 35 gainers to 21 losers, sectoral indices were mostly positive.

Top gainers

RelatedPosts

NGX’s top 3 gainers for the month of June 2022

Bullish Nigerian Exchange gains N5.64 trillion in HY’2022

  • WAPCO up 7.27% to close at N29.5
  • JBERGER up 5.64% to close at N20.6
  • DANGSUGAR up 2.49% to close at N20.6
  • MTNN up 2.40% to close at N175
  • AIRTELAFRI up 1.09% to close at N930

Top losers

  1. SKYAVN down 10.00% to close at N2.88
  2. CAVERTON down 9.41% to close at N1.83
  3. ARDOVA down 2.44% to close at N18
  4. UBN down 3.39% to close at N5.7
  5. ETI down 2.29% to close at N6.4

Outlook

Nigerian Stocks kept the bullish run ongoing amid significant buying pressure sighted in leading telecom stocks that include MTN Nigeria and Airtel Africa.

  • The NSE Insurance Index led the gainers’ chart with 1.54%. The Industrial, Consumer Goods, and Banking Indexes trailed by +0.52%, +0.21%, and +0.13% respectively. Conversely, the Oil & Gas indices closed as the lone loser, down by -0.12%
  • Nairametrics however, envisages cautious buying, amid improved market conditions in Nigeria’s financial market.

Related

Tags: Airtel Nigeria NewsAll Share IndexMTNNigerian bourse

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