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Gains in OANDO, TOTAL bolsters bullish sentiments in Nigerian stocks

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The stock exchange market made a bullish trend at the end of today’s trading session posting gains that increased the index by +82.38points. The All-Share Index increased by +0.21% closing at 38,667.90 from 38,585.52 index points.

The oil sector dominated with Total and Oando emerging for the second time this week as the top performers, while UPL took the biggest loss for today’s trading session.

  • The stock exchange market value currently stands at N20.2 trillion. Its Year-to-Date (YTD) returns currently stands at –3.98%.
  • The market breadth closed positive as UNIVINSURE led 30 Gainers, and 11 Losers topped by UPL at the end of today’s session.
  • The stock market has declined -1,602.82 basepoints since the start of the year.

NGX ASI top gainers

  1. UNIVINSURE up +10.00% to close at N0.22
  2. OANDO up +9.97% to close at N3.97
  3. TOTAL up +9.96% to close at N203.20
  4. CUTIX up +9.82% to close at N4.81
  5. GUINNESS up +9.14% to close at N31.65

NGX ASI top losers

  1. UPL down -9.03% to close at N1.41
  2. CHAMPION down -8.89% to close at N2.05
  3. REDSTAREX down -3.03% to close at N3.20
  4. INTBREW down -2.80% to close at N5.20
  5. NAHCO down -2.65% to close at N2.20

Outlook

  • Market sentiments trend towards the bulls as 30 gainers outweigh 11 losers.
  • Nairametrics advises cautious buying in this era of growing uncertainties.

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