STANBIC, NB, GUINNESS record gains, All Share Index up by 0.18%

Nigerian Stock Exchange printed impressive gains at Wednesday’s trading session.

The All Share Index gained by 0.18% to close at 25, 460.00 basis points as against +0.34% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -5.15%. Nigerian bourse market capitalization now stands at N13.82 trillion.

Nigerian Stock Exchange trading turnover closed negative as trading volume dropped by 83.11% as against +255.56% uptick recorded in the previous session. TRANSCORP, REGALINS, and UBA were the most active to boost market turnover.

UNITYBNK led the list of active stocks that recorded impressive volume spike at the end of today’s session.

Market breadth closed positive as STANBIC led 18 gainers as against 10 losers topped by MANSARD at the end of Wednesday’s trading session – an unimproved performance when compared with the previous outlook.

Top gainers

  • STANBIC up 2.74% to close at N37.5
  • NB up 2.56% to close at N40
  • GUINNESS up 1.45% to close at N14
  • FLOURMILL up 1.06% to close at N19
  • BUACEMENTup 0.25% to close at N40.3

Top Losers

  • MANSARD down 9.24% to close at N1.67
  • GLAXOSMITH down 4.90% to close at N4.85
  • VITAFOAM down3.68% to close at N5.5
  • WAPCO down 1.64% to close at N12
  • UBA down 1.53% to close at N6.45

Outlook

Nigerian bourse continued its bullish run this week, in spite of recent data showing the value of  Nigeria’s merchandise dropping by 27.30% in Q2, 2020 compared to Q1, 2020. Brewery giants that include Nigerian Breweries and Guinness helped the bourse maintain its upward momentum.

Bigwig FX however advice on cautious buying, as market liquidity remains on the headline among some institutional traders.



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