Nigeria’s stock market resumed trading for the week on a positive note, as the All-Share Index and market capitalization increased by 0.33% to 40,573.31 index points and N21.2 billion respectively. Thus, Year -to -date performance advanced to 0.75% at the close of trading.
A total volume of 206.2 million units of shares, valued at N2.16billion exchanged hands in 4,264 deals, as ZENITHBANK (0.60%) finished the most traded shares by volume and value at 21.5 million units, and N539.6 million respectively.
Across coverage sectors, the performance was mostly positive as all tracked indices closed up for the day; The NSE industrials, insurance, banking, and oil & gas advanced by 0.35%, 1.38%, 1.81%, and 5.35% respectively.
Investor sentiment as measured by market breadth, was positive as 31 stocks advanced against 13 decliners. SEPLAT (+10.00%) led the gainer’s chart for the day, while CONOIL (-10.00%) finished top loser.
Top gainers
- SEPLAT up 10.00% to close at N544.5
- JAPAULGOLD up 9.86% to close at N0.78
- MBENEFIT up 9.52% to close at N0.46
- AIICO up 9.26% to close at N1.18
- MULTIVERSE up 9.09% to close at N0.22
Top losers
- ROYALEX down 10.00% to close at N0.27
- CONOIL down 10.00% to close at N18.9
- RTBRISCOE down 9.09% to close at N0.2
- CHIPLC down 8.70% to close at N0.42
- SOVRENINS down 7.69% to close at N0.24
Outlook
Nigerian bourse ended the first trading session of the week on an impressive upward run amid soaring oil prices prevailing at U.S trading session.
The performance of the market was driven by price appreciation in SEPLAT and some significant number of capitalized stocks.
- Nairametrics envisages caution as recent price action reveals record sell-offs in a significant number of low and medium capitalized stocks across the market spectrum.
