ZENITH BANK, FLOUR MILL, SEPLAT record gains, as investors gain N39.55 billion

The Nigerian Stock market continued its bullish run on Tuesday as the All Share Index gained 0.31% to close at 24,841.94 basis points, as against +0.29% appreciation recorded on Monday. Its Year-to-Date (YTD) returns currently stands at -7.45%.

Trading turnover however closed negative, as trading volume dropped by -17.17% compared to +83.57% gain recorded yesterday.

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TRANSCORP, FBNH, and WAPCO were the most active to boost market turnover. NB and GUARANTY topped the market value chart. Investors gained N39.55 billion.

Meanwhile, market breadth closed positive, with MANSARD leading 23 gainers as against 10 losers topped by CAP. This marked an improved performance when compared with the previous outlook.

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Top gainers

• UACN up 8.73% to close at N6.85
• FLOURMILL up 4.00% to close at N19.5
• ZENITHBANK up 3.67% to close at N16.95
• SEPLAT up 3.48% to close at N321
• NB up 3.23% to close at N32.

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Top Losers

• CAP down 9.94% to close at N15.4
• TOTAL down 9.91% to close at N79.1
• ARDOVA down 9.67% to close at N12.15
• UNILEVER down 8.57% to close at N11.2
• GLAXOSMITH down 8.49% to close at N4.85.

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Outlook

The Nigerian bourse continued its bullish rally on Tuesday as buying pressure from notable Nigerian stocks lifted All Share Index upward. Nairametrics envisages cautious buying on thin market liquidity, as the Nigerian bourse experienced low trading activity by institutional investors.