Nigerian stock market closed in a near stalemate trading session on Tuesday.
The All Share index gained slightly by 0.02% to 28,344.04 points.
- A total volume of 535.8 million units of shares, valued at N5.01billion exchanged hands in 4,498 deals. REGALINS finished as the most traded shares by volume at 245.7million units, while GUARANTY topped the market value list at N3.00billion.
- The market breadth index was positive with 18 gainers against 15 losers. ETERNA (9.77%) and INTBREW (9.56%) led the Gainers chart for the day, while ETRANZACT (-9.79%) and CUSTODIAN (-4.76%) closed top losers.
- Across sectors, three of the five indexes under our coverage gained. Price appreciation in INTBREW (+9.56%), CADBURY (+1.40%), and NB (+1.03%) improved the NSE Consumer Goods Index by +0.88%.
- The NSE Insurance and Oil & Gas Indexes followed to gain 0.34% and 0.11% respectively. Conversely, the Banking index depreciated by -1.18%% on the back of sell-offs in UBA (-2.94%) and GUARANTY (-2.48%), while the Oil and Gas Index closed flat.
Top gainers
INTBREW up 9.56% to close at N4.7
ETERNA up 9.77% to close at N4.38
STANBIC up 3.53% to close at N44
CADBURY up 1.40% to close at N7.25
NB up 1.03% to close at N49.1
Top losers
ETRANZACT down 9.79% to close at N2.12
CUSTODIAN down 4.76% to close at N5
AFRIPRUD down 3.75% to close at N5.39
UBA down 2.94% to close at N6.6
GUARANTY down 2.48% to close at N29.55
Outlook
Nigerian bourse rose slightly higher amid growing unrest among Nigerian youths on Police reforms.
- Buying pressures from Stanbic, Cadbury, Nigerian Breweries neutralized significant selling pressures noticed in GTBank, UBA, and Custodian.
- Nairametrics envisages cautious buying, as recent price action bias tilts toward an overbought position.
