MTN Nigeria, Airtel Africa, WAPCO up, investors gain N259 billion

Nigerian Stocks Month-to-Date and Year-to-Date returns increased to 3.24% as market capitalization stands at N21.494 trillion.

The Nigerian Stock Exchange continued today on a positive note, as the All-Share Index improved by 1.21% to close at 41,584.94 index points.

Consequently, Month-to-Date and Year-to-Date return increased to 3.24% as market capitalization stands at N21.494 trillion, having added N259 billion.

A total volume of 467 million units of shares, valued at N5.56 billion exchanged hands in 5,990 deals.

• Transnational Corporations (+0.93%) continued to dominate market activity in terms of volume and value at 45.9 million units and N50.5 million respectively.

• Similarly, the market breadth index was positive with 32 gainers against 19 losers.

• RTBRISCOE (+10.00%) led the gainer’s chart today, while JOHNHOLT (-10.00%) was the top loser.

• Sectoral indices closed mostly positive. The NSE Consumer Goods Index led the gainers with 0.54%. The Insurance and Industrial Indexes trailed by 0.40% and 0.25% respectively.

• On the flip side, the NSE Oli & Gas & Banking Indexes dipped by -5.31% and -0.14%t respectively.

Top gainers
1. AIRTELAFRI up 7.60% to close at N920
2. FIDSON up 8.60% to close at N5.05
3. FLOURMILL up 6.25% to close at N34
4. WAPCO up 3.77% to close at N27.5
5. MTNN up 0.53% to close at N170.9

Top losers
1. SEPLAT down 9.26% to close at N490
2. CUTIX down 7.08% to close at N2.1
3. AFRIPRUD down 1.82% to close at N7
4. CADBURY down 1.54% to close at N9.6
5. ZENITHBANK down 0.94% to close at N26.25

Outlook
Nigerian stocks ended Tuesday’s trading session on an impressive note.

• The upside route followed investors’ interests in WAPCO, Flourmill, and Airtel Africa as their stocks advanced by 3.77 %, 6.25%, and 7.60% respectively.

• Nairametrics however, envisages cautious buying, amid improved market conditions in Nigeria’s financial market.