UBA, Zenith Bank Keep Nigerian Stocks At The Summit, Access Bank Most Active As Investors Gain N36 Billion


The Market breadth closed positive as BOCGAS led 22 Gainers as against 16 Losers topped by ETERNA.

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 GainersBOCGAS up 9.52% to be close at N11.5FLOURMILL up 3.45% to be close at N27VITAFOAM up 2.86% to be close at N8.75UBA up 2.38% to be close at N8.6ZENITHBANK up 2.03% to be close at N25.1

Top LosersETERNA down 8.17% to be close at N5.28HONYFLOUR down 6.25% to be close at N1.2NEIMETH down 5.09% to be close at N2.05PZ down 2.83% to be close at N5.15AFRIPRUD 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.

-Courtesy Ebony Media Gist

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