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Zenith Bank, MTN Nigeria, SEPLAT Post Gains, As Investors Gain N54.42 Billion At NSE On Tuesday ~Omonaijablog



- UBA, Wema Bank, and Sternling BANK, were the most active to boost market turnover.

- Nigerian Stock Exchange trading turnover was also positive as volume climbed up by 22.64%.


 
Nigeria bourse recorded bullish gains at Tuesday’s trading session.

The All Share Index gained by 0.39% to close at 26,611.96 basis points as against the 0.72% gain recorded on Monday.

Its Year-to-Date (YTD) returns currently stands at -0.86%. Nigerian Stock Exchange market capitalization presently stands at N13.907 Billion. Investors gained N54.42 Billion.

Nigerian Stock Exchange trading turnover was also positive as volume climbed up by 22.64% as against +0.32% uptick recorded on Monday. ZENITH BANK, STERLNBANK, and UBA were the most active to boost market turnover.

ETRANZACT leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.

Market breadth closed positive as WEMABANK led 16 Gainers as against 11 Losers topped by ETRANZACT at the end of today’s session – an unimproved performance when compared with the previous outlook.
Top gainers
BUACEMENT up 3.34% to close at N41.75
DANGSUGAR up 1.63% to close at N12.5
ZENITHBANK up 1.16% to close at N17.5
MTN up 0.79% to close at N127.5
SEPLAT up 0.50% to close at N400

Top losers
ETRANZACT down 9.96% to close at N2.35
WAPCO down 6.25% to close at N15
LEARNAFRCA down 6.14% to close at N1.07
FBNH down2.80% to close at N5.2
ARDOVA down 0.90% to close at N11

Outlook
- Nigerian bourse continued its impressive upward run amid recent death toll globally reaching a million and significant selling pressures in Nigeria’s major export product (Crude Oil).

- Notably, NSE30 Stocks like MTN Nigeria and BUA cement in the past couple of days have experienced a decent amount of buying pressures.

- Amidst the prevailing bullish run, Nairametrics envisage caution as a recent survey by Nigeria’s Central bank has revealed business organizations were pessimistic about the local economy this month.

- As inflation level is expected to rise at least in the next two quarters and the borrowing rate is expected to rise in September, October, and the next six months.

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