Nigerian Stocks start 2021 up, on gains from GTBank, WAPCO, Zenith Bank

Nigerian bourse started the year 2021 on a bullish note as it ended with 2.18% appreciation.

The local bourse opened the year on a positive note as the All-Share Index and market capitalization ascended by 2.18% to 41,147.39 index point and N21.51 trillion respectively.

  • Market activity was low as volume and value traded declined. A total volume of 36.8 million units of shares, valued at N275.5million exchanged hands in 1,562 deals. AIICO was the most traded shares by volume with 87.5 million units, while WAPCO topped by value at N222.9million.
  • The equities market breadth closed positive as 33 stocks posted gains while 2 stocks posted declines. BUACEM (+9.89%) led the gainer’s chart for the day, while FCMB (-6.01%) closed the top loser.
  • Sectors performance also improved – The Industrial and Insurance sectors recorded the largest gains as they appreciated by 4.66% and 4.39%.
  • Likewise, the Banking, Consumer, and Industrial sectors also trailed, advancing by 3.68%, 1.41%, and 0.09% respectively.

Top gainers

  1. BUACEMENT up 9.89% to close at N85
  2. WAPCO up 9.03% to close at N22.95
  3. GUARANTY up 3.55% to close at N33.5
  4. FLOURMILL up 3.65% to close at N26.95
  5. ZENITHBANK up 3.63% to close at N25.7

Top losers

  1. FCMB down 6.01% to close at N3.13
  2. CAVERTON down 3.41% to close at N1.98
  3. MOBIL unchanged 0.00% to close at N228
  4. OMATEK unchanged 0.00% to close at N0.2
  5. UNHOMES unchanged 0.00% to close at N3.02

Outlook

Nigerian Stocks started the year 2021 on an impressive note.

  • The gain in the All Share Index today was impacted by gains recorded in large and medium capitalized stocks, amongst which includes; BUACEMENT, WAPCO, ZENITHBANK and DANGSUGAR.
  • However, Bigwig FX envisage cautious buying amid rising COVID-19 caseloads in Nigeria’s key international markets.


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