Nigerian stocks ended the last trading session on a near stalemate. The All Share index dropped slightly by -0.01% to close at 38,800.01 index points as against the +2.40% gain seen on Wednesday.
Its Year-to-Date (YTD) returns currently stands at +44.55%. Nigerian Stock Exchange capitalization stood at N20.279 trillion.
Nigerian bourse trading turnover plunged significantly closing negative as volume moved down by -73.97% as against +238.56% uptick recorded in the previous session. ZENITHBANK, GUARANTY, and FLOURMILL were the most active to boost market turnover.
The market breadth closed positive as SKYAVN led 21 Gainers as against 8 Losers topped by CHAMPION at the end of today’s session – an improved performance when compared with the previous outlook.
CHAMPION leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
Nigerian Stocks ended the last trading session on a slightly bearish note, amid falling oil prices prevailing at the U.S trading session. At the time of writing this report, Brent crude was trading below $51/barrel.
That said, significant gains seen from NSE30 Stocks that include CAP, Flourmill, couldn’t stop Nigerian stocks from closing slightly red, as sell-offs intensified among leading Tier-1 banks and medium capitalized stocks.
Nairametrics envisages cautious buying, on the sentiments that recent price action shows a pause in the bullish momentum, however, stock traders anticipate the bullish run is still in play for the long term.