Nigerian Stocks ended the second trading session on a slightly bearish note. The All Share Index dropped by 0.07% to close at 41,051.63 index points as against the -0.23% plunge recorded on Monday.
- Its Year-to-Date (YTD) returns presently stands at +1.94%. Nigerian investor’s losses stood at N16.08 billion.
- Nigerian Stocks trading turnover ended negative as volume dipped by 28.91% as against the +10.79% upsurge recorded yesterday.
- The NSE Insurance Index led the gainers by 6.29%, while the Consumer Goods index trailed distantly by 0.56% On the flip side, the NSE Banking, Oil & Gas, and Industrial Index dropped by 0.73, 0.46, and 0.36% respectively.
- With 43 gainers to 21 losers, most sectoral indices closed positive, underlining the bargain-hunting across the sectors.
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Top gainers
- NNFM up 7.96% to close at N8
- FLOURMILL up 3.23% to close at N32
- WAPCO up 2.08% to close at N24.5
- NB up 1.67% to close at N61
- PRESCO up 0.68% to close at N74.5
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Top losers
- ARDOVA down 8.63% to close at N18
- BUACEMENT down 1.13% to close at N79
- UACN down 5.39% to close at N7.9
- ACCESS down 3.65% to close at N9.25
- UBA down 2.20% to close at N8.9
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Outlook
Nigerian Stocks ended Tuesday’s trading session on a slightly bearish note, amid soaring oil prices prevailing at the U.S trading session. At the time of writing this report, Brent crude was trading below $55/barrel.
- The equities market closed today with a tinge of bearishness as profit-taking transactions on large-cap stocks depressed the overall market position to a net capital loss of N16 billion.
- Nairametrics envisages cautious buying on the sentiments that recent price action shows further market correction in the near term. However, stock traders anticipate the bullish run is still in play for the long term.
