Nigeran stock market upsurges as CONOIL and IKEJAHOTEL dip

The Nigerian Stock Exchange market posted gains at the end of the trading session today, making it the sixth  day of a bullish run. The All-Share Index increased by +0.04% to close at 39,318.52 from 39,301.82 index points.

The market value of the Nigerian Stock Exchange currently stands at NGN 20.57 trillion. Its Year-to-Date (YTD) returns currently stands at – 2.36%.

The market closed in profit as TRANSCORP led 25 Gainers, and CONOIL topped the 17 Losers chart with a strong bullish movement by the NSE ASI.

NSE ASI Top gainers

1. TRANSCORP up +10.00% to close at N0.88

2. LINKASSURE up +10.00% to close at N0.88

3. CORNERST up +9.62% to close at N0.57

4. FIDSON up +9.09% to close at N4.80

5. UNITYBNK up +8.47% to close at N0.64

NSE ASI Top losers

1. CONOIL down -9.33% to close at N17.00

2. IKEJAHOTEL down -9.09% to close at N1.00

3. SOVRENINS down -8.00% to close at N0.23

4. NAHCO down -6.67% to close at N2.10

5. JAIZBANK down -4.76% to close at N0.60

NSE ASI Outlook

The NSE ASI saw a bullish move supporting last week’s bull run. The start of the week saw slight gains as speculators anticipate a pullback soon. Regardless, the following stocks are on our watchlist: PZ, Guaranty, OANDO, STANBIC, HONYFLOUR, GUINNESS and Flourmills.

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