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Stock Market

Pullback on NSE ASI amid Prestige and Wema Bank surge

The All-Share Index declined by -0.03% to close at 39,305.48 from 39,318.52 index points.

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Blue chip firms hit home run; Investors gain N191.5 billion at the Nigerian stock market, Making the best out of the Nigerian Stock Market during COVID-19

The Nigerian Stock Exchange market posted a loss at the end of the trading session today as predicted by analysts. The All-Share Index declined by -0.03% to close at 39,305.48 from 39,318.52 index points.

  • Nigerian Stock Exchange market value currently stands at NGN 20.58Tr. Its Year-to-Date (YTD) returns currently stands at – 4%.
  • The market closed in loss as PRESTIGE led 23 Gainers, and 16 Losers were topped by CHIPLC, with a strong bullish movement by the NSE ASI.

NSE ASI Top gainers

  1. PRESTIGE up +9.52% to close at N0.46
  2. WEMABANK up +8.77% to close at N0.62
  3. ROYALEX up +7.69% to close at N0.42
  4. CHAMPION up +7.46% to close at N2.16
  5. REGALINS up +7.41% to close at N0.29

NSE ASI Top losers

  1. CHIPLC down -9.09% to close at N0.30
  2. IUPL down -8.59% to close at N1.17
  3. CHAMS down -4.55% to close at N0.21
  4. HONYFLOUR down -4.44% to close at N1.29
  5. STERLNBANK down -4.38% to close at N1.53

NSE ASI Outlook

The NSE ASI saw a bearish move opposing gains held at the previous trading session. The pullback anticipated by speculators was affirmed today. The stock market is expected to make a recovery tomorrow. Nevertheless, the following stocks are on our watchlist: PZ, CAP, OANDO, STANBIC, HONYFLOUR, GUINNESS and Flourmills.

Nairametrics 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

Bullish dominance in the NGX Banking Index

The NGX Banking Index made a bullish recovery at the end of yesterday’s trading session with an increase of +1.11%, pushing the index points to 354.25.

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gtbank, stock market, Bulls dominate Nigerian bourse ASI up 0.74%, Investors gain N77 billion., Crude oil bulls lose steam, as COVID-19 cases hit record high

The NGX Banking Index made a bullish recovery at the end of yesterday’s trading session with an increase of +1.11%, pushing the index points to 354.25. There were 5 profits opposing 5 losses, but the magnitude of the gainers pushed the Banking Index into the green.

Union Bank led the gainers with a profit of +0.45, pushing its price upwards from N4.95 to N5.40.

Zenith Bank came second amongst the gainers with a profit of +1.14%, posting N22.20 from the previous day’s close of N21.95.

Guaranty Trust Bank also closed in profits with an increase of +0.86%, leaving its price at N29.40 from its previous price of N29.00. Sterling Bank was also part of the gainers with a profit of +0.63% putting its price at N1.60 from its previous close of N1.58.

Access Bank made profits of 0.62%, pushing its prices to N8.15 from N8.10.

Wema Bank was the biggest loser at the end of yesterday’s trading session as it made losses of -4.92%, leaving its price at N0.58 from N0.61.

Jaiz Bank also made losses of -3.23%, pushing its closing price to N0.63 from N0.62 obtained the previous day.

Ecobank joined the losers, posting a loss of -1.89% which put its price at N5.20 from its previous price of N5.30.

Fidelity Bank followed with a loss of -0.90%, putting its price at N2.24 from N2.22. UBA also posted a loss of -0.69%, pushing its price from N7.25 to N7.20.

Outlook

  • Market sentiment tends bullish as the magnitude of gainers outweighed the losers despite the 5 gainers and 5 losers held at the end of the trading session.
  • Nairametrics advises cautious buying amid growing uncertainties.

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Markets

Union Bank, LINKASSURE push NGX ASI into recovery

The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM.

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Nigerian stock exchange market made a bullish recovery on the last day of the week’s trading session. This surge was bolstered by gains made by UBN and LINKASSURE amongst others. The All-Share Index increased by +0.21% to close at 39,198.75 from 39,114.73.

  • Nigerian Stock Exchange market value currently stands at N20.48 trillion. Its Year-to-Date (YTD) returns currently stand at -2.66%.
  • The market breadth closed positive with the bulls as LINKASSURE led 25 Gainers, and 16 Losers topped by NEM, showing a hint of consolation.

Top gainers

  1. LINKASSURE up +9.25% to close at N0.69
  2. JOHNHOLT up +9.26% to close at N59
  3. UBN up +9.09% to close at N5.40
  4. ROYALEX up +8.33% to close at N0.65
  5. CHIPLC up +8.33% to close at N0.39

Top losers

  1. NEM down -9.50% to close at N1.81
  2. COURTVILLE down -9.09% to close at N0.20
  3. SUNUASSUR down -8.47% to close at N0.54
  4. INITSPLC down -6.98% to close at N0.40
  5. ETERNA down -6.89% to close at N5.81

Outlook

The market recovered from a week-long loss as it posts profit at the end of the trading session.

  • Market sentiments tend toward bullish momentum as the NGX ASI closes with 25 Gainers and 16 losers.
  • Nairametrics however, advises cautious buying in this era of growing uncertainties.

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