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Markets

Bullish dominance bolstered by HONYFLOUR and PZ

The market closed in profit as UACN led 24 Gainers, and 12 Losers emerged, topped by WAPIC.

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investors, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls boost global financial market, gold hits 7 years high, Dangote, Tier-1 banks lead the bulls to close Nigerian stock market green

The Nigerian Stock Exchange market posted gains at the end of the trading session on Tuesday. The All-Share Index increased by +0.43% to close at 39,015.58 from 38,840.31 index points. UACN topped the gainers list.

  • The Nigerian Stock Exchange market value currently stands at NGN 20.43Tr. Its Year-to-Date (YTD) returns currently stands at – 12%.
  • The market closed in profit as UACN led 24 Gainers, and 12 Losers emerged, topped by WAPIC, with a noticeable bullish movement by the NSE ASI.

Top gainers

  1. HONYFLOUR up +10.00% to close at N1.43
  2. PZ up +10.00% to close at N4.95
  3. SOVRENINS up +8.00% to close at N0.27
  4. NEM up +7.50% to close at N2.15
  5. JOHNHOLT up +5.88% to close at N0.54

Top losers

  1. 1. ROYALEX down -10.00% to close at N0.36
  2. PORTPAINT down -9,90% to close at N2.64
  3. FTNCOCOA down -8.89% to close at N0.41
  4. CHAMS down -4.55% to close at N0.21
  5. LIVESTOCK down -2.70% to close at N1.80

Outlook

The NSE ASI saw a bullish move supporting Monday’s gains. Predictions of the dominance of consumer goods and the banking sector were affirmed with the presence of HONYFLOUR and PZ in the top 5 gainers. STERLNBANK came 6th with noticeable +4.90% gains.

The following stocks are on our watchlist: PZ, Guaranty, Access bank, STANBIC, HONYFLOUR, GUINNESS and Flourmills.

Nairametrics, however, advises cautious participation in the stock market in this era of growing uncertainties.

Ubah,Jeremiah ifeanyi is a PhD candidate of Economics in Covenant university. He has held positions as the financial manager in Opera and is also a research ambassador in M&S research Hub. Ifeanyi is currently the financial market analyst for Nairametrics. Follow Ifeanyi on Twitter @ubahjc

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Markets

Nigerian stock market soars as UNITYBNK and JAPAULGOLD plummet

The All-Share Index increased by +0.29% to close at 39,312.74 from 39,198.75.

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Nigerian banking stocks remain most liquid stocks, as investors gain N25.1 billion, DANGOTE CEMENT, OKOMUOIL and GUINNESS drag Nigerian Stock market down,  SEPLAT, GUINNESS, Breaks Nigerian Bourse Support Levels, Investors Lose N49 Billion  

The Nigerian stock market maintained a bullish recovery as the trading session began this week. This surge was bolstered by gains made by UBN and AFRIPRUD amongst others. The All-Share Index increased by +0.29% to close at 39,312.74 from 39,198.75.

  • The Nigerian stock exchange market value currently stands at N20.44 trillion. Its Year-to-Date (YTD) returns currently stand at -2.38%.
  • The market breadth closed positive with the bulls as REGALINS led 28 Gainers and UNITYBNK topped the chart of 15 Losers showing a hint of consolation.

Top gainers

1. REGALINS up +9.68% to close at N0.34

2. ABCTRANS up +9.68% to close at N0.34

3. UBN up +9.26% to close at N5.90

4. LINKASSURE up +8.70% to close at N0.75

5. MBENEFIT up +8.11% to close at N0.40

Top losers

1. UNITYBNK down -8.33% to close at N0.55

2. JAPAULGOLD down -6.67% to close at N0.56

3. NEIMETH down -6.04% to close at N1.71

4. FLOURMILL down -4.84% to close at N29.50

5. NAHCO down -4.55% to close at N2.10

Outlook

The stock market maintained the recovery as Union bank and LINKASSURE made an appearance for the second consecutive time, pushing the NGX ASI upwards at the end of the trading session today.

Jaiz bank
  • Market sentiments were bullish as the NGX ASI closed with 28 Gainers and 15 Losers.
  • Nairametrics advises cautious buying in this era of growing uncertainties.

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Markets

Dow hits all-time high as energy stocks surge

The DOW gained 7.5 points, or 0.02%, to open at 34785.27 Index points.

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U.S stocks futures rebound , cryptocurrency, ExxonMobil, JP Morgan Chase, MasterCard Up by over 10%

At the opening bell, the Dow Jones Industrial Index (DOW) hit an all-time high as the commodity and energy markets are bullish.

The DOW gained 7.5 points, or 0.02%, to open at 34785.27 index points. The S&P 500 fell 4.3 points, or 0.10%, to open at 4228.29, while the Nasdaq Composite dropped 64.6 points or 0.47% to open at 13687.595.

This represents an optimism that interest rates would remain lower for longer, while a surge in commodity prices lifted shares of miners, energy and steel companies.

 

More details soon…

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