MTN Nigeria, Zenith Bank,SEPLAT, Dangote Cement post gains, as investors gain N54.42 billion – Ebony Media Communication

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Nigerian Stock Exchange trading turnover was also positive as volume climbed up by 22.64%.

Closed Period

Nigeria bourse recorded bullish gains at Tuesday’s trading session.

The All Share Index gained by 0.39% to close at 26,611.96 basis points as against the 0.72% gain recorded on Monday.

Its Year-to-Date (YTD) returns currently stands at -0.86%. Nigerian Stock Exchange market capitalization presently stands at N13.907 Billion. Investors gained N54.42 Billion.

  • Nigerian Stock Exchange trading turnover was also positive as volume climbed up by 22.64% as against +0.32% uptick recorded on Monday. ZENITH BANK, STERLNBANK, and UBA were the most active to boost market turnover.
  • ETRANZACT leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed positive as WEMABANK led 16 Gainers as against 11 Losers topped by ETRANZACT at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  • BUACEMENT up 3.34% to close at N41.75
  • DANGSUGAR up 1.63% to close at N12.5
  • ZENITHBANK up 1.16% to close at N17.5
  • MTN up 0.79% to close at N127.5
  • SEPLAT up 0.50% to close at N400

Top losers

  • ETRANZACT down 9.96% to close at N2.35
  • WAPCO down 6.25% to close at N15
  • LEARNAFRCA down 6.14% to close at N1.07
  • FBNH down2.80% to close at N5.2
  • ARDOVA down 0.90% to close at N11

Outlook

Nigerian bourse continued its impressive upward run amid recent death toll globally reaching a million and significant selling pressures in Nigeria’s major export product (Crude Oil).

  • Notably, NSE30 Stocks like MTN Nigeria and BUA cement in the past couple of days have experienced a decent amount of buying pressures.
  • Amidst the prevailing bullish run, Nairametrics envisage caution as a recent survey by Nigeria’s Central bank has revealed business organizations were pessimistic about the local economy this month.
  • As inflation level is expected to rise at least in the next two quarters and the borrowing rate is expected to rise in September, October, and the next six months

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