Nigerian bourse recorded its first trading loss this week amid the rising political crisis in Nigerian major cities.

The All Share Index plunged by 0.75% to close at 28,449.49 points as against +0.03% appreciation recorded on Tuesday.

• Its Year-to-Date (YTD) returns currently stands at +5.99%. Investors’ losses stood at N113.07 billion.
• Today’s trading session at the Nigerian bourse went positive as volume moved up by +9.84%, as against the +3.48% uptick recorded on Tuesday. UBA, ZENITH BANK, and GUARANTY were the most active to boost market turnover.
• NNFM leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
• Market breadth closed negative as WAPIC led 4 Gainers as against 34 Losers topped by ARDOVA at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

1. WAPIC down 10.00% to close at N0.44
2. PORTPAINT down 2.50% to close at N2.05
3. UAC-PROP down 1.23% to close at N0.82
4. NB down 0.97% to close at N52
5. ASOSAVINGS down 0.00% to close at N0.5

Top losers

1. ARDOVA up 6.30% to close at N11.9
2. GUINNESS up 5.88% to close at N16
3. WAPCO up 4.42% to close at N17.3
4. JBERGER up 3.17% to close at N16.8
5. MTNN up 1.43% to close at N138

Unsurprisingly, the Nigerian bourse ended its mid-week trading session on a bearish note amid falling crude oil prices and disruption among major economic hubs in Nigeria, particularly Lagos.

• The major theme weighing on stock traders and local investors remained the ongoing EndSARS protests. This has led to a suspension in economic activities and intensified selling pressure by the bears.
• Nairametrics envisage caution buying, as many investors now consider a wait and see approach amid high political tensions in Nigerian major cities.

Nigerian bourse closed in a near stalemate, as the All Share Index improved 0.03% to 28,665.82 points. A total volume of 297.3 million units of shares, valued at N2.96billion exchanged hands in 4,736deals.

UBA was the most traded shares by volume at 72.4million units, while ZENITHBANK topped by value N568million.

Nigerian bourse market breadth index was positive with 23 gainers against 17 losers. INTBREW (+9.90%) led the gainer’s chart today, while MOBIL (-4.60%) topped the laggards.

Sector performance

• NSE Consumer Goods Index: Up by +1.86% on buy-interests in INTBREW (+9.90%), NB (+4.67%), and FLOURMILL (+4.55%).
• NSE Insurance Index: Down by -1.17% on price depreciation in CORNERST (-4.76%) and AIICO (-4.49%).
• NSE Banking Index: Declined by -1.02% due to sell-offs in UBA (-2.82%), ACCESS (-2.52%), and GUARANTY (-1.30%).
• NSE Oil & Gas Index: Dipped by -0.89% due to the decline in MOBIL (-4.60%).
• NSE Industrial Index: Fell by -0.17% on the back of a loss in WAPCO (-2.16%)

Top gainers

1. INTBREW up 9.90% to close at N6.44
2. NB up 4.67% to close at N51.5
3. FLOURMILL up 4.55% to close at N23
4. UACN up 4.48% to close at N7
5. JBERGER up 2.66% to close at N17.35

Top Losers

1. MOBIL down 4.60% to close at N178.3
2. GUINNESS down 3.68% to close at N17
3. GUARANTY down 1.30% to close at N30.4
4. WAPCO down 2.16% to close at N18.1
5. UNILEVER down 2.59% to close at N13.15

Outlook

Nigerian bourse ended relatively flat on Tuesday amid higher oil prices and COVID-19 raging onslaughts infecting over 40 million people globally.

• The major theme distorting the mind of local investors is the shutdown of economic activities at Nigeria’s major economic hubs which include Lagos, Edo, and Oyo. This weighed on the bulls’ resolve to increase their buying pressure.
• Trading activities turned relatively impressive amid the prevailing macro, showing the high intensity of protests by Nigerian youths clamouring for police reforms.
• Nairametrics envisage cautious buying, as the prevailing macro shows a significant amount of armed miscreants distorting the peaceful protests recently.

Nigerian bourse started its first trading session, unsurprisingly ended on a neutral note.

The All Share Index remained the same as the last trading session, closing at 28,658.31 basis points as against +1.11% appreciation recorded on Friday. Its Year-to-Date (YTD) returns currently stands at +6.77%.

• That said, Nigerian bourse trading turnover plunged by -41.26% as against the +42.93% uptick recorded on Friday. ZENITHBANK, UBA, and FBNH were the most active to boost market turnover.
• CHAMS led the list of active stocks that recorded an impressive volume spike at the end of today’s session.
• Market breadth closed positive as INTBREW led 19 Gainers as against 18 Losers topped by ETERNA at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

1. INTBREW up 9.94% to close at N5.86
2. CONOIL up 9.72% to close at N15.8
3. ARDOVA up 5.83% to close at N12.7
4. GUINNESS up 4.75% to close at N17.65
5. GUARANTY up 1.48% to close at N30.8

Top losers

1. ETERNA down 8.98% to close at N4.46
2. MAYBAKER down 7.69% to close at N3
3. CADBURY down 3.11% to close at N7.8
4. ZENITHBANK down 2.55% to close at N21
5. WAPCO down 1.86% to close at N18.5

Outlook

Nigerian bourse ended neutral amid rising crude oil prices at the first trading session for the week.

• Ongoing protests among a significant number of Nigerian youths in urban areas weighed on Monday’s trading activity, as economic activities were disrupted at Nigeria’s economic hub, thereby leading to a plunge in trading activities.
• Furthermore, gains recorded by Conoil, GTbank got neutralized, as selling pressure observed in  Eterna, Cadbury, and Zenith bank intensified.
• Nairametrics envisage cautious buying as many Nigerian millennials still remain on the street protesting for other reforms, and the rising caseloads of COVID-19 in Nigerian’s international markets would most likely affect its major export earnings in the mid-term.