GTBank, MTN rally Nigerian stocks up, YTD returns stands at +5.32%.

Nigerian Stock Exchange market capitalization currently stands at N22.2 trillion.

Nigerian stocks ended the last trading session of the week on an impressive note. The All-share index, gained by 0.58% to close at 42,412.66 index points as against the +0.57% appreciation recorded on Thursday.

By Olumide Adesina

• Nigerian Stock Exchange market capitalization currently stands at N22.2 trillion. Its Year-to-Date (YTD) returns currently stands at +5.32%.
• Nigerian Stocks trading turnover closed positive as volume moved up by +2.16% as against +2.16% uptick recorded on Thursday. UBN, TRANSCORP, and FBNH were the most active to boost market turnover.
• The Market breadth closed positive as ARDOVA led 29 Gainers as against 25 Losers topped by TRANSEXPR at the end of today’s session – an improved performance when compared with the previous outlook.

Top gainers

1. ARDOVA up 8.57% to close at N19
2. VITAFOAM up 6.91% to close at N10.05
3. MTNN up 3.43% to close at N181
4. GUARANTY up 1.47% to close at N34.5
5. DANGSUGAR up 1.92% to close at N21.25

Top losers

1. TRANSEXPR down 10.00% to close at N0.99
2. STANBIC down 3.43% to close at N45
3. CAP down 2.44% to close at N20
4. GUINNESS down 1.04% to close at N19
5. WAPCO down 0.99% to close at N30

Outlook

Nigerian bourse unsurprisingly ended higher amid high buying pressures noticed in NSE30 stocks like GTBank and MTN Nigeria.

• Market liquidity was notably higher as institutional investors increased their stakes on decent stock brands.
• In spite of the sell-offs in global markets, and the dollar strengthening upward, as local investors are taking advantage of undervalued stocks across the spectrum
• Nairametrics, however, envisages caution in selecting stocks, as market indicators show growing uncertainty in the coming days.