Today’s trading on the Nigerian Stock Exchange ended on a relatively neutral note, as the All Share Index fell slightly by 0.01% to close at 24,751.84 points to print YTD performance at -7.79%.
However, activity level reversed its previous decline as total volumes and values exchanged improved by 34.66% and 17.56% respectively to 167.89 million units and 1.54 billion. JAPAULOIL was the most traded stock by volume at 25.01 million units, while GUARANTY was the most traded stock by value at N253.46 million.
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Market sentiment, as measured by market breadth, was negative as 23 tickers declined, relative to 9 gainers. DANGSUGAR and NEIMEITH were the top losers of the day with -9.85% and 9.35% declines; while UACN-PROP and TRANSCORP recorded the largest gains with +7.69% and +2.86% appreciations in share value.
Performance across sectors mirrored the broad index. All indexes closed in the negative terrain with the exception of the Oil & Gas Index which closed as the lone gainer.
The price decline in DANGSUGAR (-9.85%) and NB (-2.70%) dragged the Consumer Goods Index down by -1.38%.
READ MORE: Bears reverse gains at Nigerian Stock Market, investors lose N62.6 billion
The decline in AIICO, LASACO, and MANSARD resulted in the Insurance Index shedding -1.27%. The Banking and Oil & Industrial index followed, lowered by -0.60% and -0.18% due to price wane in ETI (-5.10%), FIDELITY (-2.81%), and WAPCO (-2.22%). Conversely, gains in OANDO (+2.04%) spurred the Energy index to grow +0.22
Top gainers
- UAC- PROP up by 7.69% to close at N0.98
- TRANSCORP up 2.86% to close at N0.72
- OANDO up 2.04% to close at N2.50
- MTNN up 1.90% to close at N118
- FLOURMILLS UP %1.52 to close at N20.00
Top losers
DANGSUGAR down 9.85% to close at N11.90, NEMIETH down 9.35% to close at N1.26, IKEJAHOTEL down 9.57% to N1.04, close at CHAMS down 8.70% to close at N0.21, AIICO down 7.22% to close at N0.90.
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Outlook
Nigerian bourse closed slightly neutral on Tuesday, as the bullish run in Brent crude got capped by the resurgence of COVID-19 cases in Nigeria, with many investors remaining on the sideline.
Nairametrics recommends you seek the counsel of a certified financial advisor, when picking stocks, with geopolitical uncertainty strengthening.
