MTN, SEPLAT, ARDOVA, rally Nigerian stocks up

Nigerian Stocks ended Thursday’s trading session on an impressive note.

The All Share Index gained by 1.54% to close at 40,963.14 index points as against +0.11% upsides recorded on Wednesday.

• Its Year-to-Date (YTD) returns currently stands at +1.72%. Nigerian Stock Exchange market value now stands at N21.4 trillion
• Nigerian bourse trading volume also surged higher, on the account volume ticked up by 72.89% as against the 59.86% plunge recorded yesterday. TRANSCORP, MBENEFIT and GUARANTY were the most active to boost market turnover.
• The market breadth closed positive as CHAMPION led 49 Gainers as against 7 Losers topped by COURTVILLE at the end of today’s session – an improved performance when compared with the previous outlook.

Top Gainers

1. NASCON up 9.72% to close at N17.5
2. ARDOVA up 9.25% to close at N21.85
3. SEPLAT up 8.76% to close N540
4. DANGCEM up 3.04% to close at N237
5. MTNN up 1.82% to close at N168

Top Losers

1. NEIMETH down 6.36% to close at N2.06
2. COURTVILLEdown 8.33% to close at N0.22
3. JAIZBANK down 2.78% to close at N0.7
4. NAHCO down 1.75% to close at N2.25
5. GUINNESS down 0.26% to close at N18.85

Outlook

Nigerian Bourse recorded an impressive winning streak this week as some NSE30 stocks including, SEPLAT, ARDOVA, MTN triggered the upward run at Thursday’s trading session.

• The Nigerian Stock market advance to close in positive territory as buying interest was seen on stocks across the board.
• Nairametrics however, envisage cautious buying, amid improved market conditions in Nigeria’s financial market.