GTBANK, GUINNESS, OKOMUOIL trigger bulls, as ASI gains 0.19%

The Nigerian Stock Market ended this week’s trading session on a bullish note, as the All Share Index gained 0.45% to close at 25,041.89 basis points as against +0.19% appreciation recorded yesterday. The Year-to-Date (YTD) returns currently stands at -6.71%.

Also, the Nigerian bouse’s market capitalization in value terms presently stands at N13,063 trillion.

The NSE trading turnover closed negative, as volume moved down by -3.80%. GUARANTY, FBNH, and STERLNBANK were the most active to boost market turnover. GUARANTY and OKOMUOIL topped the market value list.

Market breadth closed positive as LEARNAFRCA led 22 gainers, compared to 5 losers topped by UACN at the end of today’s session. This indicates an improved performance when compared with the previous outlook.

Top gainers

• VALUEFUND up 9.98% to close at N113.5
• GUINNESS up 4.44% to close at N14.1
• DANGSUGAR up 3.48% to close at N11.9
• OKOMUOIL up 2.74% to close at N77
• GUARANTY up 2.53% to close at N24.35

Top losers

• UACN down 9.49% to close at N6.2
• CHIPLC down 8.89% to close at N0.41
• JAIZBANKdown 3.39% to close at N0.57
• AIICOdown 3.23% to close at N0.9
• TRANSCORP down 1.61% to close at N0.61

Outlook

The Nigerian bourse, against all odds, finished five straight days on a bullish note. However, Narametrics still envisages cautious buying due to the relatively thin market liquidity that is currently being experienced.