#Nigerian Stocks win Grand slam, investors gain N390 billion
#Nigerian Stocks extended their gains to fourth consecutive trading days, as the All-Share Index (#ASI) advanced further by 2.10% to close the day at 36,239.62 points.
Market Capitalization gained N390.18 billion to settle at N18.94 trillion while the Year-to-Date (YTD) returns to print at 34.30%.
A total volume of 343.6million units of shares, valued at N4.34billion exchanged hands in 3,895 deals. FBNH was the most traded shares by volume and value at 99.38million units and 700million respectively.
The market breadth index was positive with 30 gainers against 17 losers. AIRTELAFRI gained 10.00% to led the gainer’s chart today, while FCMB (-4.67%) topped the laggards.
#NigerianStocks recorded impressive gains at the fourth trading session of the week, as #investors increased their buying pressure, especially buying from dips across the market spectrum.
Brent crude at the time of writing, sold at $51/barrel its highest price level since March, helped in boosting the #Nigerian central bank dollar cash inflows taking to consideration crude oil remains Nigeria’s major cash cow
However, I, envisage cautious buying, amid stringent capital controls set in place by #Nigeria’s Apex bank could triggering lower #Foreign Portfolio participation
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