Business & Finance

Dangote, Mobil, BUA, Zenith, GTbank win a home run at Nigerian stock market

Nigerian stock market maintained positive trend for the fourth trading session as the key market performance measures, All Share Index, ASI, and market capitalization, further grew by 1.05% each.

Today’s uptrend was impacted by gains recorded in High Cap stocks like Mobil, Zenith Bank, Guaranty Trust Bank, Unilever and BUACEMENT.

Today’s uptrend was impacted by gains recorded in High Cap stocks like Mobil, Zenith Bank, Guaranty Trust Bank, Unilever and BUACEMENT.

Market sentiment, as measured by market breadth closed positive, recording 29 gainers against 9 losers. REDSTAREX for the second trading session recorded the highest price gain of 10.00 % to close at N3.75 per share.

Consequently, the All-Share Index rose by 1.05 %to close at 24.758.39 index points as against 24.452.23 points recorded yesterday while market capitalization of equities appreciated by N159.55bn or 1.03 % to close higher at N12.902tn from N12.743tn as market sentiment remained on the green territory.

A turnover of 350.76 million shares valued at N3.70billion in 5,239 deals was recorded in today’s trading. ZENITHBANK (+3.03%) finished the most active in today’s trading to boost market turnover by 57.4million units of shares valued N961.39 million.

The sectoral performance was largely positive as all sector indexes gained. The Industrial index (+5.72%) was the top performer of the day, due to the +9.88 price appreciation in BUACEMENT as earnings report hit the market on Monday.

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The NSE Oil & Gas index followed to gain 1.44%, on the back of +9.95% gain recorded in MOBIL. Consequently, appreciation in FBNH (+3.88%), ZENITH BANK (+3.03%), WAPIC (+6.45%), and AIICO (+2.02%) spurred the NSE Banking and Insurance Indexes to advance 1.41% and 0.97% respectively. The Consumer Goods index finished the day, +0.38% on UNILEVER (+9.30%) price close.

Top gainers 

BUACEMENT up 9.88% to close at N35.6, MOBIL up 9.95% to close at N194.5, UNILEVER up 9.30% to close at N16.45, GUINNESS up 3.24% to close at N17.55, ZENITH BANK up 3.03% to close at N17

Top losers

ARBICO down 9.91% to close at N2.09,FLOUR MILL down 4.76%  to close at N20, OANDO down 5.76% to close at N2.62N1.9,NPFMCRFBK down 3.55%  to close at N1.9,FIDSON down 1.54% to close at N3.2

Outlook

Nigeria’s stock market final print was dependent on blue-chip stocks led by MOBIL, BUACEMNT and the banking tickers,( most tier-1 banks) had a going showing. However Nairametrics advise on cautious buying as volume still remains a bit thin

 


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