Nigerian stocks ended Tuesday’s trading session on a poor note. The All Share Index dropped by 0.13% to close at 41,510.16 index points as against the 0.34% plunge recorded on Tuesday. Its Year-to-Date (YTD) returns currently stands at +3.08%.
Nigerian bourse trading turnover today also printed negative, as volume dipped by 10.10% as against -29.43% downtick recorded yesterday FBNH, GUINNESS and RTBRISCOE were the most active to boost market turnover.
The market breadth closed positive as CHAMPION led 23 Gainers as against 22 Losers topped by NNFM at the end of today’s session – an improved performance when compared with the previous outlook.
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Top gainers
- LINKASSURE up 10.00% to close at N0.66
- MORISON up 10.00% to close at N0.55
- RTBRISCOE up 10.00% to close at N0.22
- CHAMPION up 10.00% to close at N2.75
- WEMABANK up 7.69% to close at N0.7
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Top losers
- NNFM down 9.94% to close at N7.79
- NEM down 9.20% to close at N2.27
- NIGERINS down 9.09% to close at N0.2
- JAPAULGOLD down 8.86%to close at N0.72
- MULTIVERSE down 7.69% to close at N0.24
Outlook
Nigerian stocks ended the second trading session of the week on a bearish note amid profit-taking across the market spectrum.
- Downtrend was driven by price depreciation medium and small capitalized stocks amongst which are; NEM, NNFM, JAPAUL GOLD, MULTIVERSE.
- That being said, Nairametrics envisages cautious buying on the account that certain market indicators reveal investors are taking some of their gains across the market spectrum.
