Nigerian stock exchange closed today’s closed on a negative note. The All Share Index dropped by 0.31% to settle at 28,546.22 index points. Also, the aggregate market value of all quoted equities dipped from its opening value of N14.966 trillion to settle at N14.920 trillion.
- Consequently, the Year-to-date return currently stands at 6.37%.
- A total volume of 569.3 million units of shares, valued at N4.91billion exchanged hands in 6,101 deals, as ETERNA (+10.00%) finished the most traded shares by volume at 112.3million units, while ZENITHBANK (+2.81%) topped the market value list at N1.50billion.
- Market breadth was inverse of the broad index as 26 stocks advanced against 17 decliners. ETERNA & UNILEVER led the gainers’ chart for the day, while NB & CONOIL finished top losers.
- Across sectors, two of the five indexes under our coverage gained. Price appreciation in ETI (+8.54%), FCMB (+5.71%), and ACCESS (+4.64%) moved the NSE Banking index up by 2.88%, while the NSE Insurance followed to gain 1.29%.
- On the flip side, the Industrial, Consumer Goods, and Oil & Gas indexes dipped by -2.72%, 1.30%, and -0.53% respectively, on the back of price shed in DANGCEM (-4.75%), NB (-7.07), CONOIL (-5.57%) and ARDOVA (-2.73%).
Top gainers
- UNILEVER up 9.76% to close at N13.5
- ETI up 8.54% to close at N4.45
- GUARANTY up 3.23% to close at N32
- ZENITHBANK up 2.81% to close at N20.1
- AIRTELAFRI up 2.50% to close at N410.2
Top losers
- NB down 7.07% to close at N48.6
- CONOIL down 5.57% to close at N14.4
- DANGCEM down 4.75% to close at N150.5
- ARDOVA down 2.73% to close at N12.45
- BUACEMENT down 0.84% to close at N41.4
Outlook
Nigerian bourse recorded its second losses in 14 trading days amid Bullish gains recorded in the crude oil market, as Brent crude price edge closer to $43/Barrel.
- Selling pressure among Nigerian top capitalized stocks neutralized impressive showing by Nigerian banks, as Nigerian bourse market capitalization dipped below N15 trillion
- Nairametrics remain neutral on market direction in the midterm over growing concern about Nigeria’s debt, as it came to the limelight recently when the Lagos Chamber of Commerce and Industry disclosed the growing level of Nigeria’s debt was unsustainable in view of the dwindling oil production and such debt might hit N34 trillion by the year-end.
