BUACEMENT, FLOURMILL, WAPCO rally higher as investors gain N32.7 billion

Nigerian stock market continued its bullish run on Tuesday.

The All Share Index gained about 0.25% to close at 25, 291.73 basis points as against +0.03% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -5.78%. Nigerian Stock Exchange market capitalization stood at N13.194 trillion. Investors gained N32.7 billion.

The trading volume recorded at Nigeria’s bourse was slightly positive as it recorded an uptick of 0.06%.

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TRANSCORP, UBA, and WEMABANK were the most active to boost market turnover. UBA and ZENITHBANK topped the market value list.

Market breadth closed negative as NEM led 15 gainers as against 20 losers topped by BETAGLAS at the end of today’s session – an unimproved performance when compared with the previous outlook.

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Top gainers

• NEM up 9.63% to close at N2.05
• JBERGERup 3.03% to close at N17
• BUACEMENT up 2.83% to close at N40
• WAPCO up 1.74% to close at N11.7
• FLOURMILL up 1.08% to close at N18.7

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Top Losers

• BETAGLASd own 9.99% to close at N55.4
• MAYBAKER down 9.90% to close at N2.73
• CILEASING down9.09% to close at N4
• VITAFOAM down 5.50% to close at N5.15
• GUARANTY down 0.79% to close at N25

Outlook

Nigerian bourse continued its bullish trend on the second trading session of the week, as crude oil prices finally broke the $45 support level, coupled with increased buying pressure in bluechip stocks like BUACEMENT and FLOUR MILL.

Nairametrics, however, advises you to seek stock recommendations from a certified financial advisor.