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

A total volume of 468.1 million units of shares, valued at N6.96 billion exchanged hands in 5,697 deals.

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.

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