Bullish dominance bolstered by HONYFLOUR and PZ

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 6^th 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.