Nigerian stocks ended the first trading session of the week bullish. The All Share Index rallied up by 0.17% to close at 39,396.57 index points as against the 0.08% drop recorded last Friday. Its Year-to-Date (YTD) returns currently stand at -2.17%.
- However, the Nigerian trading bourse turnover printed negative as volume dipped by 49.92% as against the 19.18% surge recorded last Friday.
- ZENITHBANK, FBNH, and MANSARD were the most active Nigerian Stocks that boosted the Nigerian Stock market turnover on Monday.
- The Market breadth closed positive as ARDOVA led 24 Gainers as against 14 Losers topped by DNMEYER at the end of today’s session – an improved performance when compared with the previous outlook.
Top gainers
- ARDOVA up 10.00% to close at N14.85
- LINKASSURE up 10.00% to close at N0.55
- CHAMPION up 9.52% to close at N1.84
- OANDO up 9.43% to close at N2.9
- MORISON up 9.09% to close at N0.72
Top losers
- MEYER down 10.00% to close at N0.45
- LIVESTOCK down 9.87% to close at N2.01
- SCOA down 9.85% to close at N2.38
- IKEJAHOTEL down 9.48% to close at N1.05
- NEM down 6.88% to close at N1.76
Outlook
Nigerian bourse ended Monday’s trading session on a bullish note amid price swings prevailing in the oil futures market.
- The performance of the market today was largely driven by price appreciation in Nigerian Oil stocks.
- Amidst such turnaround currently in play, Nairametrics envisages caution as recent price action reveals high selling pressures still prevail among a significant number of low and medium-capitalized stocks across the market spectrum.
