Bulls enjoy slight victory at the NSE

The Nigerian Stock Exchange market posted gains at the end of the trading session today, making it the fourth day of a bullish run. The All-Share Index increased by +0.01% to close at 39,131.80 from 39,128.34 index points. CUTIX made the top of the gainers list.

• Nigerian Stock Exchange market value currently stands at NGN 20.48Tr. Its Year-to-Date (YTD) returns currently stands at – 83%.
• The market closed in profit as CUTIX led 17 Gainers, and 15 Losers topped by EKOCORP with a slightly bullish movement by the NSE ASI.

Top gainers

1. CUTIX up +7.00% to close at N2.14
2. PZ up +6.93% to close at N5.40
3. LINKASSURE up +5.00% to close at N0.84
4. COURTVILLE up +4.35% to close at N0.24
5. OANDO up +3.96% to close at N3.15

Top losers

1. 1. EKOCORP down -10.00% to close at N5.40
2. SUNUASSUR down -9.09% to close at N0.60
3. HONYFLOUR down -8.45% to close at N1.30
4. SOVRENINS down -8.00% to close at N0.23
5. UNITYBNK down -6.78% to close at N0.55

Outlook

The NSE ASI saw a bullish move supporting Wednesday’s gains and showing bullish dominance since the start of the week.  However, the following stocks are on our watchlist: PZ, Guaranty, Access bank, STANBIC, HONYFLOUR, GUINNESS and Flourmills.

• Nairametrics advises cautious participation in the stock market in this era of growing uncertainties.