Zenith Bank, UBA, others most active as stock market appreciates

Zenith Bank, Sterling Bank and UBA are among the most active stocks on the floor of the Nigerian Stock Exchange on Tuesday as the All Share Index gained by 0.39 per cent to close at 26,611.96 basis points as against the 0.72 per cent gain recorded on Monday.

Its Year-to-Date (YTD) returns currently stands at -0.86 per cent. 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 per cent as against the +0.32 percent uptick recorded on Monday.

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.

BUACEMENT up 3.34 per cent to close at N41.75; DANGSUGAR up 1.63 per cent to close at N12.5; ZENITHBANK up 1.16 per cent to close at N17.5; MTN up 0.79 per cent to close at N127.5 and SEPLAT up 0.50 per cent to close at N400

ETRANZACT led the losers’ chart, down 9.96 per cent to close at N2.35. WAPCO down 6.25 per cent to close at N15; LEARNAFRCA down 6.14 per cent to close at N1.07; FBNH down 2.80 per cent to close at N5.2 and ARDOVA down 0.90 per cent to close at N11.

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, NSE 30 Stocks like MTN Nigeria and BUA cement in the past couple of days have experienced a decent amount of buying pressures.

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.