Airtel, Dangote, WAPCO rebounds strongly, investors gain N310 billion

Nigerian Stocks end the first trading session of the week on a positive note. The All Share Index gained +1.73% to close at 34,843.44 points as against a 0.94% drop recorded last Friday.

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• Nigerian Stock market Year-to-Date (YTD) returns presently stands at +29.81%. Nigerian Stock Exchange market capitalization currently stands at N18.2 trillion. Investors gained N309.78 billion.
• However, Nigerian Stocks trading turnover on Monday ended bearish as volume dipped by 73.86% as against the +43.71% surge recorded last Friday. ZENITH BANK, GUARANTY, and ACCESS were the most active to boost market turnover.
• The market breadth closed positive as AIRTELAFRI led 26 Gainers as against 14 Losers topped by INTBREW at the end of today’s session – an improved performance when compared with the previous outlook.

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Top Gainers

1. AIRTELAFRI up 10.00% to close at N704
2. BOCGAS up 6.35% to close at N7.2
3. GUINNESS up 3.82% to close at N17.65
4. DANGCEM up 2.73% to close at N188
5. WAPCO up 2.19% to close at N21

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Top Losers

1. INTBREW down 9.89% to close at N6.47
2. CUTIX down 9.47% to close at N1.72
3. NASCON down 9.38% to close at N14.5
4. ARDOVA down 6.51% to close at N12.2
5. UBN down 5.50% to close at N5.15

READ: Airtel Africa posts an all-time high, investors gain N82 billion

Outlook
Nigerian Stocks against headwinds continued its bullish trend, amid crude oil prices trading above $50/barrel at the U.S trading session.

• Buying pressure from Industrial Stocks and Telcom stocks, particularly Airtel Africa kept the bullish run in the play, amid significant sell-offs seen in some notable Nigerian stocks like Union Bank, International Breweries.
• Nairametrics envisage you seek the advice of a certified stockbroker or financial advisor in choosing stocks to buy, as some Nigerian stocks exhibit cyclic returns.

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