Nigerian stocks record gains, investors gain N132.8 billion

Nigerian Stocks started the second trading session on a bullish note. The All Share Index went up by 0.83% to close at 30,733.47 points, as against -0.17% depreciation recorded on Monday.

Its Year-to-Date (YTD) returns currently stands at +14.50%. Investors gained N132.80 billion at Tuesday trading session.

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• Nigerian bourse trading turnover however printed negative at 0.77%, as against -53.37% downtick recorded on Monday. ZENITHBANK, FBNH, and UBA were the most active to boost market turnover.
• SEPLAT leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
• Market breadth closed positive as WAPIC led 24 Gainers, as against 18 Losers topped by CUSTODIAN at the end of today’s session – an improved performance when compared with the previous outlook.

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Top Gainers

1. CAP up 9.58% to close at N22.3
2. OANDO up 7.00% to close at N2.7
3. DANGCEM up 5.63% to close at N169
4. VITAFOAM up 5.47% to close at N6.75
5. DANGSUGAR up 1.65% to close at N15.4

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Top Losers

1. CUSTODIAN down 7.44% to close at N5.6
2. GUINNESS down 2.65% to close at N16.55
3. FLOURMILL down 1.56% to close at N28.4
4. GUARANTY down 1.54% to close at N32
5. STANBIC down 1.08% to close at N46

Outlook

Nigerian Stocks ended its Tuesday trading session on gains, amid a bullish trend seen in crude oil prices, and the U.S dollar losing value significantly.

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• Buying pressure was seen in Nigerian blue-chip stocks like Dangote Cement, CAP, and Dangote Sugar, which helped to rally Nigerian Stocks to its upside.
• Nairametrics expects you to seek advice on choosing stocks to buy, on the bias that the historical performance of many stocks can’t be a guarantee for future returns.