Nigerian bourse finished on Friday on a negative note as the All-Share Index dropped by 0.17% to close the week at 24,287.66 index points. Market capitalization similarly dropped by the same margin to close at N12.669trillion.
The activity level closed the week mixed, as total volume declined by 22.62% to 160.50million units, while total value improved by 33.33% to N1.47billion. CUSTODIAN was the most traded stock by volume at 14.05million units while ZENITHBANK finished the most traded stock by value at N349.61.1 million.
In today’s trade, the market breadth index was slightly negative with 12 losers against 10 gainers. LINKASSURE (-9.09%) led the loser’s chart while GLAXOSMITH (+9.20%) was the top gainer.
Three of the five indices under coverage fell, one advanced, while the Industrial index closed flat.Price depreciation in LINKASSURE (-9.09%), REGALINS (-4.35%) and NEM (-2.91%) dragged the Insurance index down by 0.87%.
The Banking index trailed closely by 0.81% due to a decline in GUARANTY (-2.27%), WEMA BANK (-1.92%) and UBA (-0.81%). Consumer goods shed 0.51% as NB and DANGSUGAR dropped by (-2.28%) and (-1.64%) respectively. ARDOVA (+7.73%) and OANDO (+3.59%) buoyed the Energy index (+0.67%) to close as the lone gainer.
Top gainers
GLAXOSMITH up 9.20% to close at N4.75, ARDOVA up 7.73% to close at N12.55, NAHCO up 4.04% to close at N2.06, CAVERTON up 3.83% to close at N1.9, OANDO up 3.59% to close at N2.31.
Top losers
NEM down 2.91% to close at N2, NB down 2.28% to close at N30, GUARANTY down 2.27% to close at N21.5, DANGSUGAR down 1.64% to close at N12, UBN down 0.92% to close at N5.4.
Outlook
Nigerian bourse ended the week on a negative note, as falling crude oil prices coupled with the rise in Nigeria’s inflation. Nairametrics envisages cautious buying as market liquidity remains very poor.
