Nigerian Stocks fire up on all cylinders, investors gain N173.62 billion

Nigerian bourse continued its bullish momentum on Friday as investors maintained buying pressures on major bellwether stocks.

The All Share Index (ASI) gained by 1.28% to close the week at 13,754.87 points. Investors gained N173.62 billion to close market capitalization at N13.754 trillion, thus reducing the YTD loss to -2.64%.

• A total volume of 335 million units of shares, valued at N4.27billion exchanged hands in 4,231 deals
• STERLNBANK was the most traded shares by volume at 79.5million units while ZENITHBK topped by value at N878.6million.
• Investor sentiment as measured by market breadth was positive as 22 stocks advanced against 17 decliners. NB (+9.82%) led the gainer’s chart to close the week, while NNFM (-10.00%) finished the top loser.
• Sector Performance was broadly bullish as four indexes closed in green.
• NSE Consumer Goods Index: Up by 2.45%, on price appreciation in NB (9.82%), PRESCO (+7.07%), and FLOURMILL (6.70%)
• NSE Banking Index: Improved by 2.01%, buoyed by GUARANTY (+3.85%), STANBIC (+3.58%), and ACCESSBK (+2.29%).
• NSE Industrial Index: Gained 1.58%, on WAPCO (+6.74%) and DANGCEM (+2.28%).
• NSE Insurance Index: Appreciated by 0.44%, saved by CORNERST (+9.23%).
• NSE Oil & Gas Index: Down by -0.51%, on OANDO (-9.78%).

Top gainers

• NB up 9.82% to close at N52.55
• PRESCO up 7.07% to close at N53
• FLOURMILL up 6.70% to close at N21.5
• STANBIC up 3.58% to close at N40.5
• DANGCEM up 2.28% to close at N139

Top Losers

• NNFM down 10.00% to close at N4.05
• OANDO down 9.78% to close at N2.03
• CADBURY down 5.41% to close at N7
• UACN down 3.17% to close at N6.1
• DANGSUGAR down 1.60% to close at N12.3

Outlook

Nigerian bourse continued its bullish run at the last trading session for the week amid falling prices, a strong dollar, and rising COVID-19 caseloads.

• Buying pressures in NSE30 Stocks that include Nigerian Breweries, Dangote Cement, Stanbic, and Flourmills kept Investors smiling to the bank
• Nairametrics envisage cautious buying in spite of high buying pressures lately, as market liquidity remains a growing concern.