MTN Nigeria hits record high, Investors gain N211 billion

Nigerian Stocks extended its gains today as positive sentiments dominated trading activities. The benchmark All Share Index (ASI) advanced further by 1.25% to close the day at 32,647.10 points. Market Capitalization gained N211.13 billion to settle at N17.05 trillion while the Year-to-Date (YTD) returns stand at +20.45%.

A total volume of 578.7 million units of shares, valued at N7.74billion exchanged hands in 7,651deals. ZENITHBANK was the most traded shares by volume and value at 67.9million units and N1.62billion, while FBNH followed with 64.7million units and N464 million respectively.

READ: Key highlights from the October 2020 Business Expectations Survey Report released by CBN

The market breadth index was positive with 39 gainers against 11 losers. NASCON (+9.96%) led the gainer’s chart today, while PZ (-5.38%) topped the laggards.

• Performance across sectors was mainly positive as all sectors closed in green. The Insurance and Oil & Gas sectors recorded the largest gains as they appreciated by 3.28% and 1.32%. In the same vein, Banking, Consumer and Industrial sectors also advanced by 0.93%, 0.75% and 0.22% respectively.
• Sector Performance
• NSE Insurance Index: Up by +3.28%, on price appreciation in WAPIC (+9.52%); LINKAGE (+8.89%); MANSARD (+5.77%) and CUSTODIAN (+1.82%).
• NSE Oil & Gas Index: Advanced by 1.32%, due to gains in OANDO (+9.76%) and ARDOVA (+7.06%).
• NSE Banking Index:  Increased by 0.93%, as positive sentiment persists in WEMABANK (+8.70%), ETI (+3.33%), ACCESS (+2.30%) and ZENITHBANK (+2.30%).
• NSE Consumer Goods Index:   Improved by 0.75%, as CADBURY (+10.00%), NASCON (+9.96%), NNFM (+9.92%) and DANGSUGAR (+7.18%) closed north.
• NSE Industrial Index:   Rose by 0.22% due to the appreciation recorded in BUACEMENT (+1.11%).

READ: Profit-taking intensifies as GTBank, Dangote Cement stocks drop

Top gainers

1. NASCON up 9.96% to close at N15.45
2. DANGSUGAR up 7.18% to close at N19.4
3. ARDOVA up 7.06% to close at N14.4
4. STANBIC up 4.35% to close at N48
5. MTNN   up 4.06% to close at N156.2, its highest Y-o-Y value

READ: Bears claw at bank stocks, as CBN cuts interest rate

Top Losers

1. PZ down 5.38% to close at N4.4
2. UCAP down 3.17% to close at N4.28
3. WAPCO down 2.10% to close at N21
4. NESTLE down 1.53% to close at N1400
5. GUARANTY down 0.71% to close at N35

Outlook

Nigerian Stocks continued its bullish run amid soaring oil prices

Buying pressure in MTN Nigeria, Stanbic pushed the Nigerian bourse to hit N17 trillion. Nairametrics envisage you seek the advice of a registered Stockbroker on choosing Stocks to buy amid growing uncertainty in Nigeria’s international markets.