Nigerian stocks ended Monday’s trading session slightly bullish.
To start the week, the All-Share Index advanced marginally by +0.08% to settle at 40,150.78 points due to buying interest in ARDOVA, FLOUR MILLS, and PRESCO.
- Consequently, YTD return and market capitalization settled at -0.45% and N20.99 trillion respectively.
- A total volume of 335.6 billion units of shares valued at N2.48billion exchanged hands in 5,338 deals.
- MBENEFIT was the most traded shares by volume with 104.1 million units, while ZENITHBANK and WAPCO topped by value at N344 million and N320 million respectively.
- Market sentiment was positive as market breadth came in at 1.16x with 28 advancers and 24 decliners. ARDOVA (+10.00%) led the gainer’s chart today, while CUTIX (-10.00%) was the top loser.
Top gainers
- ARDOVA up 9.79% to close at N17.95
- BERGER up 9.52% to close at N8.05
- FLOURMILL up 2.81% to close at N27.45
- PRESCO up 1.41% to close at N72
- OKOMUOIL up 0.54% to close at N93
Top Losers
- CUTIX down 10.00% to close at N2.16
- BOCGAS down 9.96% to close at N11.39
- CAVERTON down 7.07% to close at N1.84
- UCAP down 3.40% to close at N4.83
- GUARANTY down -0.45% to close at N32.85
Outlook
Nigerian Stocks ended the first trading session on a slightly bullish note, amid falling oil prices prevailing at the U.S trading session. At the time of writing this report, Brent crude was trading around $52/barrel.
- Nairametrics envisages cautious buying, on the sentiments that recent price action shows the bullish run softening in the near term, however, stock traders anticipate more upsides are still in play for the long term at the world’s best-performing Stock market.
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