GTBank, MTN rally Nigerian stocks up, YTD returns stands at +5.32%.

Nigerian stocks ended the last trading session of the week on an impressive note. The All-share index, gained by 0.58% to close at 42,412.66 index points as against the +0.57% appreciation recorded on Thursday.

Nigerian Stock Exchange market capitalization currently stands at N22.2 trillion.

Its Year-to-Date (YTD) returns currently stands at +5.32%. Nigerian Stocks trading turnover closed positive as volume moved up by +2.16% as against +2.16% uptick recorded on Thursday. UBN, TRANSCORP, and FBNH were the most active to boost market turnover.

The Market breadth closed positive as ARDOVA led 29 Gainers as against 25 Losers topped by TRANSEXPR at the end of today’s session – an improved performance when compared with the previous outlook.

Top gainers

ARDOVA up 8.57% to close at N19VITAFOAM up 6.91% to close at N10.05MTNN up 3.43% to close at N181GUARANTY up 1.47% to close at N34.5DANGSUGAR up 1.92% to close at N21.25.

Top losers

TRANSEXPR down 10.00% to close at N0.99STANBIC down 3.43% to close at N45CAP down 2.44% to close at N20GUINNESS down 1.04% to close at N19WAPCO down 0.99% to close at N30.

Outlook

Nigerian bourse unsurprisingly ended higher amid high buying pressures noticed in NSE30 stocks like GTBank and MTN Nigeria.

Market liquidity was notably higher as institutional investors increased their stakes on decent stock brands.

In spite of the sell-offs in global markets, and the dollar strengthening upward, as local investors are taking advantage of undervalued stocks across the spectrumNairametrics, however, envisages caution in selecting stocks, as market indicators show growing uncertainty in the coming days.