Nigeria

MTN, ZENITH BANK, FCMB record returns, N26.6 billion to investors

At the end of today ‘s session, VITAFOAM led 19 winners against 6 NEIMETH losers.

For the fourth consecutive trading session this week, the Nigerian Stock Exchange has resumed its bullish streak.

The Nigerian All Share Index gained 0.20 per cent to close at 25,511.02 base points compared to the previously reported 0.18 per cent appreciation. Its Year-to-Date return (YTD) is currently -4.96%.

The capitalisation of the Nigerian stock market currently stands at N13.308 trillion. Investors have acquired N26.6bn.

Nigerian stock exchange trading turnover closed up as trading turnover rose by 28.18 percent compared to the -83.11 percent decrease reported at the trading session on Wednesday. The most involved for raising market turnover were TRANSCORP, ZENITHBANK, and LASACO.

Market breadth closed positively as VITAFOAM led 19 Gainers against 6 NEIMETH Losers at the end of today’s session – a better performance compared to the previous outlook

Top gainers

  • VITAFOAM to close at N5.78, up 5.09 percent
  • FCMB to close at N2.2 up 4.76 percent
  • UACN to close by 4.20 per cent at N6.2
  • ZENITHBANK to close at N16.95 up 1.47 percent
  • MTNN to close at N118.6 up 0.51 per cent

Outstanding losers

  • NEIMETH to close 6.50 per cent at N1.87
  • AIICO to close at N0.9 by 5.26 per cent
  • STERLNBANK to close at N1.19 down 4.80 percent
  • TRANSCORP to close at N0.58, down 1.69 percent
  • FIDELITYBK down 0.55% to closing at N1.8

Outlook.

This week, the Nigerian bourse continued its bullish run, as NSE30 stocks like MTN, ZENITH, kept the bulls roaring at the Stock Market session in Nigeria. It should also be noted that the recent stability in Nigeria’s FX market in today’s trading session provided the requisite stability among the traders’ bias.

Nairametrics, however, envisages cautious buying over rising COVID-19 caseloads in the major markets of Nigeria, including the U.S. Europe, and most of Asia.