ECOBANK, UBA record gains, investors up by N45.3 billion

Nigerian bourse on Tuesday recorded impressive gains. The Nigerian All Share Index gained by 0.34% to close at 25,413.95 basis points as against +0.07% appreciation recorded on Monday. Its Year-to-Date (YTD) returns currently stands at -5.32%.

Nigerian Stock Market capitalization now stands at N13.258 trillion, as investors gained N45.29 billion

Nigerian Stock Exchange trading turnover closed green as volume moved up by +255.56% as against +120.36% uptick recorded in the previous session. UAC-PROP, ACCESS, and GUARANTY were the most active to boost market turnover.

Market breadth closed positive as LIVESTOCK led 27 gainers as against 9 losers topped by WAPIC at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  • ETI up 6.41% to close at N4.15
  • NB up 5.41% to close at N39
  • UBA up 4.80% to close at N6.55
  • UACN up 4.39% to close at N5.95
  • STANBIC up 1.25% to close at N36.5

Top losers

  • UBN down 5.66% to close at N5
  • PZ down 2.38% to close at N4.1
  • MAYBAKER down 2.33%to close at N2.93
  • FCMB down 2.27% to close at N2.15
  • DANGCEM down 0.67% to close at N134

Outlook

Nigerian bourse continued its bullish run in spite of prevailing macros that include the surge of COVID-19 caseloads in emerged markets that serve as an important destination for Nigeria’s crude oil and relatively low volatility in the energy market.

Bigwig FX envisage cautious buying in the near term as a significant amount of institutional investors remain on the sidelines.



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