Thursday, January 7, 2021

UBA, Zenith Bank keep Nigerian Stocks fired up, investors gain N36 billion

The Market breadth closed positive as BOCGAS led 22 Gainers as against 16 Losers topped by ETERNA.
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Nigerian Stocks ended the mid-week trading session on a positive note. The All Share Index gained by +0.17% to close at 40,465.15 index points as against the 1.83% plunge recorded yesterday. Nigerian Stock Exchange market value stands at N21.15 trillion.

Its Year-to-Date (YTD) returns currently stands at +0.48%. Investors gained N36.08 billion

  • Nigerian bourse trading turnover ended bearish at Wednesday’s trading session as volume dipped by 46.41% as against +119.73% uptick recorded on Tuesday. JAPAULOIL, ACCESS, and MANSARD were the most active to boost market turnover.
  • The Market breadth closed positive as BOCGAS led 22 Gainers as against 16 Losers topped by ETERNA at the end of today’s session – an improved performance when compared with the previous outlook.

Top Gainers

  1. BOCGAS up 9.52% to be close at N11.5
  2. FLOURMILL up 3.45% to be close at N27
  3. VITAFOAM up 2.86% to be close at N8.75
  4. UBA up 2.38% to be close at N8.6
    ZENITHBANK up 2.03% to be close at N25.1

Top Losers

  1. ETERNA down 8.17% to be close at N5.28
  2. HONYFLOUR down 6.25% to be close at N1.2
  3. NEIMETH down 5.09% to be close at N2.05
  4. PZ down 2.83% to be close at N5.15
  5. AFRIPRUD down 1.48% to be close at N6.65

Outlook

Nigerian Stocks recorded impressive gains at the fourth trading session of the week, as investors increased their buying pressure on medium capitalized stocks.

  • Nigerian’s crude, at the time of writing, sold at $54/barrel, its highest price level since Feb 2020.
  • However, Nairametrics, envisages cautious buying, as stringent capital controls set in place by Nigeria’s Apex bank could trigger lower Foreign Portfolio participation.

 

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