Investors Gain N426bn in Four Days as BUA, Dangote Remain Bullish

Nigerian stock market
  • Investors Gain N426bn in Four Days as BUA, Dangote Remain Bullish

Investors in the Nigerian Stock Exchange gained N426 billion in four trading days as market sentiment remained largely positive amid renewed interest in Nigerian assets despite COVID-19 pandemic.

The NSE All-Share Index gained 1.25 percent from 24,452.23 on Wednesday to settle at 24,758.39 basis points on Thursday.

Market capitalisation of listed equities improved by N160 billion from N12.743 trillion it closed on Wednesday to N12.903 trillion on Thursday. This brings the total profit for the four trading days to N426 as market value had risen from N12.477 trillion it opened on Monday to N12.903 trillion.

Activity level was low when compared to Wednesday as N350.765 million shares valued at N3.706 billion were exchanged in 5,239 deals, against the 436.838 million shares worth N5.410 billion that were traded in 5,190 deals on Wednesday.

Stocks of Zenith Bank remain the most traded on Thursday like the majority of the week as 57.420 million units valued at N961.397 million were traded.

Investors also picked interest in EKOCORP, FBNH, Guaranty Trust Bank and WAPCO as 57,003,125, 44,360,888, 31,999,831 and 28,383,185 units worth N342,018,750.00, N230,965,329.25, N764,790,045.15 and N312,418,920.40 exchanged hands during trading hours on Thursday respectively.

Top Gainers

Mobil led the top gainers’ table with N17.6 or 9.95 percent gain to close at N194.5 per share while BUA Cement followed with N3.2 or 9.88 percent to settle at N35.6 a share. Unilever, Guinness and Zenith Bank added N1.4 or 9.30 percent, N0.55 or 3.24 percent and N0.5 or 3.03 percent, respectively.

Top Losers

Flourmil led with a decline of N1 or 4.76 percent. Followed by Arbico, OANDO and NPFMCRFBK lost N0.23 or 9.91 percent, N0.16 or 5.76 percent and N1.9 or 0.07 percent.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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