Friday, Jul 10th 2020 4:39 PM

Market Digest Nigeria


Nigerian stocks are currently on an 8 day Bull Run

The Nigerian stock market gained ground for the eighth day in a row, with the benchmark All Share Index/ market capitalization improving further by 1.40% to settle at 24,143.37 index points and N12.582 trillion respectively.

Activity level was mixed, as the volume of shares exchanged increased by 23.60% to 426.64 million units of shares valued at N4.10 billion in 7,384 deals.

FBNH was the most active in today’s trading, boosting market turnover by 91.92 million, while GUARANTY was the most traded stock by value at N1.04 billion, topping the value list.

Market sentiment, as measured by market breadth, was positive with 35 gainers led by NB (+10.00%), as against 4 losers topped by CILEASING (-6.00%). Sector performance was bullish; all the indices appreciated, led by a massive +5.32% gain in the lenders Index, as Tier-one banking stocks continued to rally.

The Insurance (+3.66%) and Consumer Goods (+1.98%) indices also registered gains, as CHI Plc, NEM, NB and GUINNESS all recorded above 8% price appreciation. Lastly, ARDOVA (+9.84%) and WAPCO (+4.71%) drove the Oil & Gas, and Industrial goods indices by 1.27% and 0.64% respectively.

Top gainers
NB up 10.00% to close at N33; CAP up 9.57% to close at N22.9; GUARANTY up 9.29% close at N22.95; GUINNESS up 8.29% close at N18.95; and FLOURMILL up 6.33% close at N21.

Top losers
CILEASING down 6.00% to close at N4.7; UACN down 3.47% to close at N6.95; UNIONDAC down 3.13% to close at N0.31; INTBREW down 2.00% to close at N4.9; and ABCTRANS N0.35 0.00% to close flat.


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