GTBank, Zenith Bank stage a strong comeback, investors gain N109 billion

Nigerian stocks ended Thursday’s trading session on an impressive note. The All Share Index rallied by 0.54% to 38,914.84 index points. Year-to-date return and market capitalization settled at -3.35% and N38.91 trillion, respectively. Nigerian investors were up by N109 billion

• ETERNA (9.96%) led the gainer’s chart today, while WAPIC (-9.09%) was the top loser. A total volume of 368.2 million units of shares, valued at N4.90 billion, exchanged hands in 4,437 deals.
• Nigerian stock investors’ sentiment as measured by the market breadth closed positive as 22 stocks advanced, while 12 declined.

Top gainers

1. ETERNA N4.62 N5.08 0.46 9.96%
2. LASACO N1.2 N1.3 0.1 8.33%
3. ZENITHBANK N20.5 N22 1.5 7.32%
4. GUARANTY N28 N29.8 1.8 6.43%
5. DANGSUGAR N16 N17 1 6.25%

Top losers

1. LINKASSURE N0.55 N0.5 -0.05 -9.09%
2. WAPIC N0.55 N0.5 -0.05 -9.09%
3. ABCTRANS N0.3 N0.28 -0.02 -6.67%
4. STERLNBANK N1.57 N1.47 -0.1 -6.37%
5. HONYFLOUR N1.25 N1.18 -0.07 -5.60%

Outlook

Nigerian stocks ended relatively bullish at the fourth trading session of the week, amid buying pressure from a significant number of Nigeria’s leading tier 1 banks.

• Bargain hunting on bellwether ZENITHBANK (7.32%), GUARANTY (6.43%), & DANGSUGAR (6.25%) had the most influence on the index.
• Nairametrics, however, envisages cautious buying amid growing uncertainty in Nigeria’s key international market, which includes resurging COVID-19 cases.