Nigerian Stock market ended the first trading session on an impressive note.
The All Share Index gained +0.80% to close at 39,110.17 index points as against the -0.01% drop recorded at the last Thursday’s trading session.
Its Year-to-Date (YTD) returns are currently at +45.70%. Nigerian Stock Exchange market capitalisation now stands at N20.447 trillion.
Also, the Nigerian bourse trading turnover on Tuesday soared higher as market turnover closes rallied up by 72.38% as against the 73.97% plunge recorded on Thursday. AIICO, OANDO, and FBNH were the most active to boost market turnover.
The market breadth closed negative as NEM led 18 Gainers as against 20 Losers topped by NCR at the end of today’s session – an unimproved performance when compared with the previous outlook.
Top gainers
NEM up 9.56% to close at N1.49
NPFMCRFBK up 8.39% to close at N1.68
BUACEMENT up 6.67% to close at N64
ACCESS up 4.07% to close at N8.95
ZENITHBANK up 2.04% to close at N25
READ: NSE launches X-PO, first end-to-end public offering subscription platform in Africa
Top losers
NCR down 9.68% to close at N1.96
CAP down 2.44% to close at N20
FLOURMILL down 1.61% to close at N27.5
GUINNESS down 1.03% to close at N19.3
GUARANTY down 0.30%to close at N32.7
READ: Airtel Africa to sell its 4,500 tower assets to cut down $3.5 billion debts
Outlook
Nigerian stocks are headed for their best annual gain in about seven years amid soaring oil prices at the US trading session.
The Nigerian All-Share index in Africa’s largest economy recorded its best return, rising 45.7% this year, the most among 93 equity indexes tracked by Bloomberg. It’s the world’s best-performing stock market year-to-date.
NSE30 Stocks, most especially Dangote, Airtel Africa, BUA cement increased the bullish trend at unprecedented levels, as Nigerian Stocks continues to attract institutional funds at a steady pace and the ultra-low rate environment seen lately in the debt market encouraged investors to invest more in local stocks exhibiting good fundamentals.
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