Nigerian stocks ended the mid-week trading session on an impressive note. The All Share Index added 0.98% to close at 39,085.78 index points.

  • Year-to-date return and market capitalization settled at -2.39% and N20.44 trillion, respectively.
  • Investor sentiment as measured by the market breadth closed positive at 1.25x on 20 advancers and 16 decliners.
  • Performance across sectors improved, as the Consumer Goods, Oil & Gas, and Industrial Indexes gained +0.73%, +0.68%, and +0.65% respectively, while the Insurance and Banking sector fell by -0.56% and 0.12%.

Top gainers

  1. STANBIC up 9.99% to close at N48.45
  2. NPFMCRFBK up 9.60% to close at N1.94
  3. CORNERST up 8.93% to close at N0.61
  4. GUINNESS up 8.76% to close at N27.3
  5. OANDO up 8.68% to close at N3.38

Top losers

  1. MRS down 9.70% to close at N12.1
  2. WAPIC down 9.09% to close at N0.5
  3. WAPCO down 7.11% to close at N20.9
  4. AFRIPRUD down 5.45% to close at N5.2
  5. LIVESTOCK down 4.74% to close at N1.81

Outlook

Nigerian stocks ended Wednesday’s trading session on a bullish note. The performance of the index was largely influenced by buy interest in STANBIC, GUINNESS, and OANDO which gained 9.99%, 8.76%, and 8.68%, respectively.

  • STANBIC (+9.99%) led the gainer’s chart today, while MRS (-9.70%) closed the top loser. The Nigerian Stock market advance to close in positive territory as buying interest was seen on stocks across the board.
  • Nairametrics however, envisage cautious buying, amid improved market conditions in Nigeria’s financial market.
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