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Nigeran stock market upsurges as CONOIL and IKEJAHOTEL dip

The market closed in profit as TRANSCORP led 25 Gainers, and CONOIL topped the 17 Losers chart.

The Nigerian Stock Exchange market posted gains at the end of the trading session today, making it the fifth day of a bullish run. The All-Share Index increased by +0.04% to close at 39,318.52 from 39,301.82 index points.

The market value of the Nigerian Stock Exchange currently stands at NGN 20.57 trillion. Its Year-to-Date (YTD) returns currently stands at – 2.36%.

The market closed in profit as TRANSCORP led 25 Gainers, and CONOIL topped the 17 Losers chart with a strong bullish movement by the NSE ASI.

NSE ASI Top gainers

1. TRANSCORP up +10.00% to close at N0.88

2. LINKASSURE up +10.00% to close at N0.88

3. CORNERST up +9.62% to close at N0.57

4. FIDSON up +9.09% to close at N4.80

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5. UNITYBNK up +8.47% to close at N0.64

NSE ASI Top losers

1. CONOIL down -9.33% to close at N17.00

2. IKEJAHOTEL down -9.09% to close at N1.00

3. SOVRENINS down -8.00% to close at N0.23

4. NAHCO down -6.67% to close at N2.10

5. JAIZBANK down -4.76% to close at N0.60

NSE ASI Outlook

The NSE ASI saw a bullish move supporting last week’s bull run. The start of the week saw slight gains as speculators anticipate a pullback soon. Regardless, the following stocks are on our watchlist: PZ, Guaranty, OANDO, STANBIC, HONYFLOUR, GUINNESS and Flourmills.

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Nairametrics advises cautious participation in the stock market in this era of growing uncertainties.

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