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NESTLE LEAD NIGERIA STOCKS MARKET TO RECORD HIGH

Nestle Lead Nigeria Stocks Market To Record High
Nestle Lead Nigeria Stocks Market To Record High

Market breadth closed positive as NESTLE led 43 Gainers as against 11 Losers topped by PRESTIGE at the end of today’s session.

Nigeria stocks market were blue hot on Friday, as Nestle momentarily went bullish on most listed stocks.

The All Share Index gained 3.71% to close at 30,530.69 points as against +1.58% appreciation recorded on Thursday.

  • Nigerian Stock Exchange capitalization presently stands at about N16 trillion naira.
    Its Year-to-Date (YTD) returns currently stands at +13.74%.
  • That said, Nigerian bourse trading turnover was very impressive at Friday’s trading session as volumed surged by +115.27% as against -2.68% downtick recorded on Thursday.
  • UBA, ACCESS, and FBNH were the most active to boost market turnover. GUARANTY and STANBIC topped the market value list.
  • Market breadth closed positive as NESTLE led 43 Gainers as against 11 Losers topped by PRESTIGE at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  1. NESTLE up 10.00% to close at N1421.7
  2. MOBIL up 9.98% to close at N196.1
  3. BUACEMENT up 9.90% to close at N45.5
  4. TOTAL up 9.25% to close at N129.9
  5. DANGCEM up 3.03% to close at N160

Top losers

  1. PRESTIGE down 10.00% to close at N0.54
  2. NAHCO down 5.41% to close at N2.1
  3. GUINNESS down 3.13% to close at N17
  4. PZ down 2.20% to close at N4.45
  5. ETI down 0.88% to close at N5.65
  6.  

Outlook

Nigerian bourse was fired up at all cylinders amid falling oil prices across the market spectrum.

  • NSE30 stocks saw high buying pressures as Total and Nestle recorded maximum daily gains on Friday.
  • Nigerian institutional investors seem to be shifting more of their funds to Nigeria Stocks Market on the prevailing low returns seen in the Nigerian debt market.
  • However, envisage cautious buying amid growing uncertainty in Nigeria’s key international market, particularly Europe, where about 40% of Nigeria’s major oil earning comes from.
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Urhobo Daily

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