Nigerian stock market on a flawless bullish run, crude oil boost triggers rally


A total turnover of 1.718 billion shares worth N18.849 billion in 26,367 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 926.418 million shares valued at N9.768 billion that exchanged hands last week in 20,910 deals.

The Financial Services industry (measured by volume) led the activity chart with 1.273 billion shares valued at N11.362 billion traded in 13,808 deals; thus contributing 74.08% and 60.28% to the total equity turnover volume and value respectively.

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The Industrial Goods industry followed with 102.377 million shares worth N3.194 billion in 2,956 deals. In the third place was the Healthcare industry, with a turnover of 99.620 million shares worth N493.348 million in 1,194 deals.

Trading in the top three equities, Zenith Bank Plc, Access Bank and FBN Holdings Plc (measured by volume), accounted for 673.104 million shares worth N6.803 billion in 5,927 deals, contributing 39.18% and 36.09% to the total equity turnover volume and value respectively.

The NSE All-Share Index and Market Capitalization both appreciated by 5.59% to close the week at 25,204.75 and N13.136 trillion respectively.

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55 equities appreciated in price during the week, higher than 32 equities in the previous week. 8 equities depreciated in price, lower than 28 equities in the previous week, while 100 equities remained unchanged, lower than103 equities recorded in the preceding week.

Top 10 gainers for the week

UNILEVER NIGERIA PLC up 33.86% to close at N17.00.

RED STAR EXPRESS PLC up 26.67% to close at N3.80.

BUA CEMENT PLC up 23.42% to close at N39.00.

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11 PLC up 20.92% to close at N213.90.

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U A C N PLC up 20.14% to close at N8.35.

VITAFOAM NIG PLC. up 20.00% to close at N6.00.

CUTIX PLC up 19.85% to close a to close at N1.63.

C & I LEASING PLC up19.57% to close at N5.50.

AIICO INSURANCE PLC up 19.54% to close at N1.04.

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NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 19.44% to close at N0.86.

Top 8 losers for the week

ARBICO PLC down 9.91% to close at N2.09.

AFROMEDIA PLC down 9.68% to close at N0.28.

ROYAL EXCHANGE PLC down 9.09% to close at se at N0.20.

LASACO ASSURANCE PLC down 7.41% to close at N0.25.

CORNERSTONE INSURANCE PLC down 6.78% to close at N0.55.

NESTLE NIGERIA PLC. down 4.33% to close at N995.00.

MAY & BAKER NIGERIA PLC down 1.92% to close at N3.06.

NIGERIAN AVIATION HANDLING COMPANY PLC down 1.64% to close at N2.40.

Outlook

The Nigerian stock market finished the week with a five days of consecutive winning, coupled with buying pressures for blue-chip stocks.

This was triggered by soaring crude oil prices which remained bullish, on the 4th week of consecutive gains. As COVID-19 induced restrictions globally eased, demand for Nigeria’s major export (crude oil) picked up.

Nairametrics, recommends that you solicit the service of a certified financial advisor, as volatility will most likely resume in the coming weeks. Happy holidays!



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