The Nigerian stock market reversed its previous day’s loss, as the All Share Index gained 0.17% to close at 24,972.89 points from the previous close of 24,930.88 points on Tuesday.
Market Capitalization closed at N13.027 trillion, up by 0.17% from the previous close of N13.005 trillion, thereby gaining N21.8 billion.
Activity levels finished strong, as total volume and value improved by 32.72% and 70.81% to close at 265.9million units and N2.70billion respectively. GTB was the most traded stock by volume and value with 43.6 million units valued at N1.02 billion.
Market breadth index was negative with 24 losers against 10 gainers. NESTLE (+10.00%) led the gainer’s chart while SEPLAT (-9.99%) topped the losers’.
READ MORE: Banks push customers towards self service in the “new normal”Â
With the exception of the Consumer Goods index, which recorded 4.19% appreciation during the day due to gains in NESTLE (+10.00%), CADBURY (+6.67%) and FLOURMILL (+4.35%), all other sectors finished in the red. Sell-offs in SEPLAT (-9.99%), prompted a -4.37% depreciation of the Oil & Gas index to feature as the worst performing index.
The Insurance and Banking indexes trailed to shed -2.95% and -0.79% respectively, stirred by price depreciation in MANDARD (-9.00%), AIICO (-8.25%) and GUARANTY (-2.54%) while the Industrial index remained unchanged.
Top gainers
NESTLE up 10.00% to close at N1094.5; CADBURY up 6.67% to close at N8; FLOURMILL up 4.35% to close at N20.4; ACCESS up 1.48% to close atN6.85; and ZENITHBANK up 0.31% to close at N16.15.
READ ALSO: Many Nigerians are trooping into foreign stock markets
Top losers
SEPLAT down 9.99% to close at N428.8; FIDSON down 6.34% to close at N3.4; REDSTAREX down 5.26% to close at N3.6; GUARANTY down 2.54% to close at N23; and DANGSUGAR down 2.03% to close at N14.5.
Outlook
Nigeria’s Consumer Goods sector had a good showing on the Nigerian bourse today, appreciating more than 4%, lifting the Nigerian bourse up and countering the huge sell offs that occurred in the Oil sector today, as crude oil prices breached support levels.
However, Nairametrics envisages cautious buying, as market liquidity remained a bit low.
