Nigeria

STANBIC, GTBANK, MOBIL record gains, with investors’ profit up by N21 billion

Nigerian bourse continued its bullish run in three days consecutively.

The Nigerian Stock Market continued its bullish run on Wednesday as the All Share Index gained by 0.16% to close at 24,882.04 points. The market capitalization also increased by the same margin to N12.979 trillion, even as investors gained N20.94 billion.

Volume and Value of shares traded were up by 148.13% and 168.41% to 383.28million units and N3.89 billion respectively, in 3,860 deals.

UACN was the most traded by volume at 81.74 million units, while PRESCO topped by value at N1.255 billion.

Performance across sectors was mixed as two out of the five major sub-indices under our coverage closed positive.

The Banking Index gained 0.07%, buoyed by gains in GUARANTY and ACCESS. Price appreciation in MOBIL closed the Oil and Gas sector by 0.11%.

The Consumer goods and Industrial index inched up distantly by 0.01% respectively. The Insurance index finished as the lone loser, down marginally by 0.01%

Top gainers

  • CAP up 9.74%to close at N16.9
  • STANBIC up 5.00% to close at N31.5
  • GUARANTY up 1.94% to close at N23.6
  • PRESCO up 1.16% to close at N48
  • MOBIL up 0.92% to close at N175

Top losers

  1. ETERNA down 9.00% to close at N1.82
  2. MAYBAKER down 3.33% to close at N2.9
  3. ZENITHBANK down 2.65% to close at N16.5
  4. FLOURMILL down 0.51% to close at N19.4
  5. WAPCO down 0.43% to close at N11.7

Outlook

The Nigerian bourse has continued its bullish run for three consecutive days, as some blue-chip stocks such as STANBIC, MOBIL, and GTBank recorded impressive gains.

However, Nairametrics envisages cautious buying, as market liquidity remains a major concern among stock traders. This is coupled with the issue of heightened geopolitical tension/uncertainty between two of the superpowers.

Source: Nairametrics