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
- INTBREW up 9.94% to close at N5.86
- CONOIL up 9.72% to close at N15.8
- ARDOVA up 5.83% to close at N12.7
- GUINNESS up 4.75% to close at N17.65
- GUARANTY up 1.48% to close at N30.8
Top losers
- ETERNA down 8.98% to close at N4.46
- MAYBAKER down 7.69% to close at N3
- CADBURY down 3.11% to close at N7.8
- ZENITHBANK down 2.55% to close at N21
- 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.
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