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Nigerian Stocks Hit Record High, Triggered By GTBank, Dangote Cement

Nigerian Stocks ended the last trading session on a bullish note. The All Share Index gained by 0.90% to close at 31,016.17 points as against -0.01% depreciation recorded on Thursday.

Its Year-to-Date (YTD) returns currently stands at +15.55%.

  • Nigerian trading turnover went up on Friday, as volume ticked up by +8.21% compared to the +50.16% uptick recorded on Thursday. OMOMORBNK, FBNH, and STERLNBANK were the most active to boost market turnover.
  • PRESCO leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed positive as DANGSUGAR led 31 Gainers as against 11 Losers topped by MANSARD at the end of today’s session – an improved performance when compared with the previous outlook.

Top Gainers

  • DANGSUGAR up 6.11% to close at N16.5
  • GUINNESS up 5.74% to close at N17.5
  • GUARANTY up 3.72% to close at N33.5
  • DANGCEM up 3.25% to close at N174.5
  • PRESCO up 1.67% to close at N67

Top Losers

  • MANSARD down 9.09% to close at N2
  • NEM down 8.07% to close at N2.05
  • BUACEMENT down 5.39% to close at N43
  • FLOURMILL down 1.45% to close at N27.2
  • OANDO down 2.17% to close at N2.7

Outlook
Nigerian bourse ended the last trading session on a bullish note. Buying pressure was significantly noticed in leading Blue-chip stocks like GTBank, Dangote Cement, and Guinness.

  • Nigerian Stock Exchange market capitalization reached its highest point this year as it breached above N16.207 Trillion.
  • PaperTalk Nigeria envisage cautious buying amid rising COVID-19 caseloads seen in Nigeria’s vital markets – most specifically Europe.

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