The Nigerian bourse as anticipated started the first trading session of the week on a negative note. The All-Share Index and Market Capitalization finished the day lower, losing 0.27% to close at 28,337.49 points and N14.81 trillion respectively.
- A total volume of 369.1 million units of shares, valued at N5.06billion exchanged hands in 4,750 deals, as UBA finished as the most traded shares by volume of 95.0million units, while GUARANTY and ZENITH bank topped the market value list at N1.98billion and N944 million respectively.
- NSE Insurance Index: Down by -1.78%, on price decline in MANSARD (-5.67) and REGALINS (-4.35%).
- NSE Consumer Goods Index: Dipped by -0.91%, on INTBREW (-9.11%) and Flourmill (-4.55%) decrease.
- NSE Industrial Index: Fell by -0.54%, due to sell-offs in BUACEMENT (-1.45%).
- NSE Banking Index: slide -0.05%, on price decline in GUARANTY (-0.33%), and ZENITHBANK (-0.25%).
- NSE Oil & Gas Index: Up +1.36%, on the back of the gains recorded in ETERNA (+9.92%) and SEPLAT (+2.44%)
Similarly, in today’s trade, the market breadth index was negative with 16 losers against 13 gainers. INTBREW (-9.11%) & FLOUR MILL (-4.55%) led the losers’ chart for the day, while ETERNA (+9.92%) and CUTIX (+4.65%) finished top gainers.
ETERNA up 9.92% to close at N3.99
CUTIX up4.65% to close at N1.8
SEPLAT up 2.44% to close at N420
FCMB up 2.21% to close at N2.31
ACCESS up 1.28% to close at N7.9
INTBREW down 9.11% to close at N4.29
FLOURMILL down 4.55% to close at N21
AFRIPRUD down 2.27% to close at N5.6
BUACEMENT down 1.45% to close at N40.9
MTNN down 0.36% to close at N140
Nigerian bourse started the week trading south, amid falling crude oil prices. Significant selling pressure was seen in NSE30 stocks that include MTN Nigeria, International Breweries, and Flour mills.
Michael Nwakalor, Macroeconomist at CardinalStone Research, in a phone chat interview with Nairametrics explained the bias most traders are having now
- We expect to see mixed sentiments in the ASI this week.
- Bargain hunting activities on continued expectations of suppressed fixed-income yields are likely to be punctuated by profit-taking over the week.