WAPIC, NEIMETH, GLAXOSMITH rally Nigerian stocks up

Nigerian stocks rose further today by 0.53% to 39,293.14 index points amid renewed buy activity and price appreciation in STANBIC.

Year-to-date return and market capitalization also improved to settle at -1.86% and N20.55 trillion, respectively.

• A total volume of 229.4 million units of shares, valued at N3.78 billion exchanged hands in 4,016 deals.
• The market breadth index was positive with 23 gainers against 12 losers. WAPIC (+10.00%) led the gainer’s chart today, while SOVRENINS (-8.33%) was the top loser.
• UBN was the most traded shares by volume at 79.5 million units, while MTN topped by value at N1.61 billion.

Top gainers

1. WAPIC up 10.00% to close at N0.55
2. UPDCREIT up 9.80% to close at N5.6
3. PHARMDEKO up 9.63% to close at N1.48
4. NEIMETH up 9.55% to close at N1.95
5. GLAXOSMITH up 9.45% to close at N6.95

Top losers

1. SOVRENINS down 8.33% to close at N0.22
2. NPFMCRFBK down 7.22% to close at N1.8
3. PRESTIGE down 6.82% to close at N0.41
4. JAPAULGOLD down 4.44% to close at N0.43
5. DANGSUGAR down 2.67% to close at N16.4

Outlook

Nigerian stocks ended the fourth trading session of the week on a bullish note. Sectorial performance was positive as the insurance, banking, and industrial indexes improved by 0.81%, 0.61%, 0.90%, and 0.07% respectively.

• On the flip side, the consumer goods & energy indexes fell by 0.24% and 0.05% respectively.
• Nairametrics however, envisage cautious buying, amid improved market conditions in Nigeria’s financial market