Nigerian stocks post gains, MOBIL, SEPLAT, GUINNESS rally high

Nigerian Stocks rallied higher at the third trading session of the week.

The All Share Index advanced today by 0.11% to 40,341.05 index points. Year-to-date return and market capitalization settled at 0.17%, and N21.09 trillion respectively.

• A total volume of 468.1 million units of shares, valued at N6.96 billion exchanged hands in 5,697 deals.
• ZENITHBANK was the most traded shares by volume and value at 45.7 million units and N1.18 billion respectively.
• The sectorial performance was broadly bullish as the Insurance & Energy indexes lead the gainer’s chart by +4.12 & 1.74%.
• The Consumer goods, Industrial & Banking sectors trailed distantly, appreciating by 0.11% and 0.08% apiece. Market sentiment was positive as market breadth came in at 2.0x with 32 advancers and 16 decliners.

Top Gainers

1. BOCGAS up 9.92% to close at N12.52
2. MOBIL up 9.43% to close at N249.5
3. FLOURMILL up 6.93% to close at N29.3
4. SEPLAT up 0.08% to close at N496.5
5. GUINNESS up 1.61% to close at N18.9

Top Losers

1. INTBREW down 3.82% to close at N6.8
2. GLAXOSMITH down 2.78% to close at N7

1. LIVESTOCK down 9.74% to close at N1.76 –
2. AFRIPRUD down 2.59% to close at N6.77
3. CUTIX down 5.00% to close at N2.09

Outlook

Nigerian bourse continued its impressive upward run amid high COVID-19 caseloads recorded globally,

• The performance of the market was driven by price appreciation in Mobil,  BOCGAS, and SEPLAT.
• Notably, NSE30 Stocks like SEPLAT and GUINNESS cement in the past couple of days have experienced a decent amount of buying pressures.
• Amidst the prevailing bullish run, caution is envisaged as recent price action reveals little activity in a significant number of low and medium capitalized stocks across the market spectrum.