GTBank, Zenith Bank stage a strong comeback, investors gain N109 billion - The Gallant News

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Sunday 21 March 2021

GTBank, Zenith Bank stage a strong comeback, investors gain N109 billion

  

Nigerian stock investors’ sentiment as measured by the market breadth closed positive as 22 stocks advanced, while 12 declined.


Nigerian stocks ended Thursday’s trading session on an impressive note. The All Share Index rallied by 0.54% to 38,914.84 index points. Year-to-date return and market capitalization settled at -3.35% and N38.91 trillion, respectively. Nigerian investors were up by N109 billion

ETERNA (9.96%) led the gainer’s chart today, while WAPIC (-9.09%) was the top loser. A total volume of 368.2 million units of shares, valued at N4.90 billion, exchanged hands in 4,437 deals.
Nigerian stock investors’ sentiment as measured by the market breadth closed positive as 22 stocks advanced, while 12 declined.
Top gainers

ETERNA N4.62 N5.08 0.46 9.96%
LASACO N1.2 N1.3 0.1 8.33%
ZENITHBANK N20.5 N22 1.5 7.32%
GUARANTY N28 N29.8 1.8 6.43%
DANGSUGAR N16 N17 1 6.25%
Top losers


LINKASSURE N0.55 N0.5 -0.05 -9.09%
WAPIC N0.55 N0.5 -0.05 -9.09%
ABCTRANS N0.3 N0.28 -0.02 -6.67%
STERLNBANK N1.57 N1.47 -0.1 -6.37%
HONYFLOUR N1.25 N1.18 -0.07 -5.60%
Outlook

Nigerian stocks ended relatively bullish at the fourth trading session of the week, amid buying pressure from a significant number of Nigeria’s leading tier 1 banks.

Bargain hunting on bellwether ZENITHBANK (7.32%), GUARANTY (6.43%), & DANGSUGAR (6.25%) had the most influence on the index.
Nairametrics, however, envisages cautious buying amid growing uncertainty in Nigeria’s key international market, which includes resurging COVID-19 cases.
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