Nigerian bourse ended the trading week on a bearish note, as the All-Share Index dropped by -0.34% to close the week at 24,427.73 points.
Market capitalization similarly declined by same margin to close at N12.742trillion. Accordingly, Year to date market return stands presently at -8.99%.
However, activity level improved as total volumes and values exchanged increased by 6.03% and 12.17% to 174.19 million units and 2.384 billion respectively.
ZENITHBANK was the most traded by volume and Value at 34.5million units’ value at N537.54million.
Market sentiment, as measured by market breadth, closed positive with 17 gainers against 13 losers. CUSTODIAN and CUTIX were the top gainers of the day with +10.00% apiece appreciation, while SEPLAT and UNILEVER recorded the largest decline with -10.00% and -4.67% drop in share value.
Top gainers
JBERGER up 10.00% to close at N17.05, CUSTODIAN up 10.00%, DANGSUGAR up 1.71% to close at N11.9 to close at N5.5, NAHCO up 8.37% to close at N2.2, STANBIC up 3.45% to close at N30,
Top losers
SEPLATdown 10.00% to close at N347.UNILEVER down 4.67% to close at N12.254, BUACEMENT down 2.50% to close at N39, UBA down 1.64% to close at N6, WAPCO down 0.45% to close at N10.95
Outlook
Nigeria bourse ended the last trading on a bearish note as high capped stocks (SEPLAT, UNILEVER,) recorded heavy losses with market liquidity remaining thin in spite of Q2,2020 earnings season results. Nairametrics envisages cautious buying as geopolitical risks strengthens.