Saturday, November 7, 2020

Nigerian Stocks hit record high, triggered by GTBank, Dangote Cement

DANGSUGAR led 31 Gainers as against 11 Losers topped by MANSARD at the end of today’s session
Nigerian Stock Exchange, NSE: Return of the Bulls, Bulls reign at the bourse as stocks gain N460.69 billion on Wednesday, Okomu, UACN, Ekocorp top gainers list on Friday, Stock Market closed the week bullish as ASI grew 0.94% , Investors gain N41.94 billion on Tuesday as Bulls make rebound, NSE: Bearish trade costa investors N12.2 billion on Tuesday, NEM, Mansard, First Bank lead gaining stocks as ASI grew 0.61%, Nigerian bourse breathes a sigh of relief, index up 0.17%, Bulls charged Nigerian bourse, ASI Index up 1.09% investors gain N128.49 billion, Bulls stage comeback has ASI up 0.19%, investors gain N21.86 billion, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls dominate Nigerian bourse investors gain N162 billion
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Nigerian Stocks ended the last trading session on a bullish note. The All Share Index gained by 0.90% to close at 31,016.17 points as against -0.01% depreciation recorded on Thursday.

Its Year-to-Date (YTD) returns currently stands at +15.55%.

  • Nigerian trading turnover went up on Friday, as volume ticked up by +8.21% compared to the +50.16% uptick recorded on Thursday. OMOMORBNK, FBNH, and STERLNBANK were the most active to boost market turnover.
  • PRESCO leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed positive as DANGSUGAR led 31 Gainers as against 11 Losers topped by MANSARD at the end of today’s session – an improved performance when compared with the previous outlook.

Top Gainers

  • DANGSUGAR up 6.11% to close at N16.5
  • GUINNESS up 5.74% to close at N17.5
  • GUARANTY up 3.72% to close at N33.5
  • DANGCEM up 3.25% to close at N174.5
  • PRESCO up 1.67% to close at N67

Top Losers

  • MANSARD down 9.09% to close at N2
  • NEM down 8.07% to close at N2.05
  • BUACEMENT down 5.39% to close at N43
  • FLOURMILL down 1.45% to close at N27.2
  • OANDO down 2.17% to close at N2.7

Outlook
Nigerian bourse ended the last trading session on a bullish note. Buying pressure was significantly noticed in leading Blue-chip stocks like GTBank, Dangote Cement, and Guinness.

  • Nigerian Stock Exchange market capitalization reached its highest point this year as it breached above N16.207 Trillion.
  • Nairametrics envisage cautious buying amid rising COVID-19 caseloads seen in Nigeria’s vital markets – most specifically Europe.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading and Financial Market Analysis. Member of the Chartered Financial Analyst Society. You can follow Olumide on Twitter @tokunboadesina or email olumide.adesina@nairametrics.com.

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