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Home Markets Equities Stock Market

Nigerian Stocks drop despite Airtel Africa hitting an all-time high

Olumide Adesina by Olumide Adesina
December 7, 2020
in Stock Market
WAPCO, Zenith charge bulls at the Nigerian stock market, investors gain 73.37 billion, Bulls party at Nigeria's Stock market for the holidays, index up % 0.76, Bulls party at Nigeria's Stock market for the holidays, index up % 0.76
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Nigerian bourse ended Monday’s trading session on a bearish note. The All Share index dropped by 0.21% to close at 35,064.36 points as against the 0.48% gain recorded last Friday. Its Year-to-Date (YTD)  gains presently stands at +30.63%.

  • Nigerian trading turnover, however, rallied up as volume ticked up by +10.74% as against +1.20% uptick recorded at the last trading session. UBA, FBNH, and ACCESS were the most active to boost market turnover.
  • The market breadth closed positive as LIVESTOCK led 17 Gainers as against 15 Losers topped by TRANSCOHOT at the end of today’s session – an improved performance when compared with the previous outlook.
  • NPFMCRFBK leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.

Top gainers

  1. MOBIL up 9.20% to close at N228
  2. AIRTELAFRI up 8.75% to close at N640
  3. CILEASING up 7.17% to close at N4.78
  4. ARDOVA up 3.21% to close at N14.45
  5. ZENITHBANK up 1.70% to close at N23.95

Top losers

  1. DANGCEM down 2.93% to close at N199
  2. DANGSUGAR down 2.56% to close at N19
  3. UACN down 2.05% to close at N7.15
  4. GUARANTY down 1.04% to close at N33.25
  5. GUINNESS down 0.56% to close at N17.9

Outlook

Nigerian Stocks started the first trading session on a negative note amid falling oil prices prevailing at the U.S trading session.

  • Buying pressure from blue-chip stocks, particularly Airtel Africa, couldn’t aid Nigerian Stocks bulls amid significant sell-offs seen in some notable NSE30 stocks like GTBank, Dangote Cement, Guinness.
  • Nairametrics expects you seek the advice of a certified stockbroker or financial advisor in choosing stocks to buy, as some Nigerian stocks exhibit cyclic returns.

Related

Tags: All Share IndexDangote cementGTBankGuinnessNigerian Stocks

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