FCMB, ACCESS, UBA most traded stocks by turnover, ASI drops by 0.19%

Nigerian bourse on Wednesday closed bearish amid positive prevailing macros. The All Share Index plunged by 0.19% to close at 25,550.31 points as against a -0.03% drop recorded Tuesday.

• Nigerian Stock exchange market capitalization presently stands atN13.353 trillion. Its Year-to-Date (YTD) returns currently stands at -4.81%.
• Nigerian Stock Exchange trading turnover printed negative on Wednesday, as trading volume fell by 13.59% as against a -4.63% drop recorded on Tuesday trading session.
• FCMB, ACCESS, and UBA were the most active to boost market turnover.
• Market breadth closed negative as BERGER led 17 Gainers as against 19 Losers topped by NEM at the end of today’s session – an unimproved performance when compared with the previous outlook.

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Top gainers

• BERGER up 7.44% to close at N6.5
• UBN up 7.00% to close atN5.35
• NB up 2.31% to close at N42
• VITAFOAM up 1.75% to close at N5.8
• CAP up 0.59% to close at N17.1

Top losers

• NEM down 9.78% to close at N2.03
• CADBURY down 8.39% to close at N7.1
• INTBREW down 6.25% to close at N3
• WAPCO down 3.70% to close at N13
• ZENITHBANK down 1.16% to close at N17

READ: Zenith Bank, Unilever, Okomu Oil record losses as investors lose N39.2 billion

Outlook

In spite of Crude oil prices gaining more than 2% and Brent crude prices hitting pass $41/barrel, the All Share Index closed negative at Wednesday’s trading session.

• Significant selling pressures from Cadbury, International Breweries dampened traders’ morale in the relatively low liquid stock market.
• Nairametrics, envisage cautious buying as market indicators, point to low market liquidity in the coming days.