Nigerian bourse ended Wednesday’s trading session on a bearish note.
The All Share Index dipped lower by 0.26% to close at 35,056.82 points as against the 0.30% gain recorded yesterday. Its Year-to-Date (YTD) returns currently stands at +30.60%.
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- Nigerian Stock Exchange market capitalization now stands at N18.323 trillion. Investors lost N42 billion in the mid-week trading session.
- Nigerian trading turnover at Wednesday’s trading session, however, printed positive as volume ticked by 19.72%, as against the 25.83% drop recorded on Tuesday.
- ACCESS, FBNH, and ZENITHBANK were the most active to boost market turnover.
- The market breadth closed negative as AIICO led 19 Gainers as against 22 Losers topped by NNFM at the end of today’s session – an unimproved performance when compared with the previous outlook.
- CAP leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
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Top gainers
- AIICO up 9.90% to close at N1.11
- CUTIX up 7.14% to close at N1.8
- UBA up 5.49% to close at N8.65
- STANBIC up 3.90% to close at N44
- MAYBAKER up 2.94% to close at N3.5
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Top losers
- NNFM down 9.67% to close at N6.26
- NB down 7.05% to close at N56
- CAP down 6.98% to close at N20
- GUARANTY down 2.57% to close at N34.1
- FLOURMILL down 2.17% to close at N27
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Outlook
Nigerian Stocks ended the third trading session for the week on a bearish note.
- Selling pressure was significantly seen in blue-chip stocks like GTBank, Nigerian Breweries, CAP, Flour mills, as investors began a significant amount of profit-taking across the market spectrum.
- Nairametrics envisages cautious buying, as institutional investors reduce some of their long positions amid growing uncertainty playing out in Nigeria’s currency market.
Explore Data on the Nairametrics Research Website
