Nigerian stocks ended the second trading session of the week on a quite impressive note. The benchmark index rose by 0.41% to settle at 38,702.81 index points due to price gain in MTN, GUINNESS.
- Consequently, yar to date return and market capitalization settled at -3.85%, and N20.25 trillion, respectively.
- A total volume of 220.8 billion units of shares, valued at N4.20billion exchanged hands in 4,192 deals. UBA was the most traded shares by volume, while GUARANTY topped by value at N470.5million.
- Investor sentiment as measured by market breadth was however negative with 20 decliners against 11 gainers. GUINNESS (+10.00%) led the gainer’s chart today, while WAPIC (-9.09%) closed top loser.
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Top gainers
- GUINNESS up 10.00% to close at N25.3
- REGALINS up 10.00% to close at N0.33
- JAIZBANK up 9.68% to close at N0.68
- VITAFOAM up 5.44% to close at N7.75
- LIVESTOCK up 3.83% to close at N1.9
Top losers
- WAPIC down 9.09% to close at N0.5
- AFRIPRUD down 8.26% to close at N5
- FIDELITYBK down 6.69% to close at N2.23
- ETI down 5.83% to close at N4.85
- GUARANTY down 4.84% to close at N28.5
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Outlook
Trading activities on the floor of the Nigerian Stock Exchange today closed on the positive route following gains recorded by blue-chip firms amid falling oil prices.
The Industrial and Consumer goods indexes recorded gains as they appreciated by 1.70% and 0.23%, while the lenders and insurance indexes fell by -3.51%, -0.66%, and -1.07% respectively.
Nairametrics however envisage cautious buying, on released macros printing Nigerian inflation is at record high coupled with high unemployment weighing on buying pressures in the long term.
