Nigerian stock market dropped further today by 0.63% to 40,465.32 index points. Year-to-date return and market capitalization settled at -0.15% and N21.03 trillion respectively.
- Activity level improved today compared to yesterday as 426.2 million shares, valued at N4.75 billion exchanged hands in 4,972 deals.
- Nigerian investors’ losses on Thursday stood at N132.42 billion.
- Investor sentiment as measured by the market breadth was negative today at 0.33x on 17 advancers and 23 decliners. UPL (-9.09%) led the laggards today, while RTBRISCOE (+10.00%) finished top gainer.
READ: Nigerian stocks ranked world’s best-performing stock market
Top gainers
- RTBRISCOE up 10.00% to close at N0.22
- CORNERST up 8.47% to close at N0.64
- ROYALEX up 8.00% to close at N0.27
- NAHCO up 6.51% to close at N2.29
- NIGERINS up 4.55% to close at N0.23
READ: Bears stage a big come back, Nigerian stocks investors lose N426 billion
Top losers
- UPL down 9.09% to close at N1.2
- CHAMS down 8.33% to close at N0.22
- UPDCREIT down 7.76% to close at N5.35 –
- MULTIVERSE down 7.69% to close at N0.24
- JAPAULGOLD down 5.56% to close at N0.68
READ: Bears reverse gains at Nigerian Stock Market, investors lose N62.6 billion
Outlook
Nigerian stocks ended the fourth trading session of the week on a negative note amid soaring oil prices prevailing at the U.S trading session.
- Across coverage sectors, the performance was mostly negative as all tracked indices closed in the red. The NSE banking, insurance, consumer goods, energy and industrials lagged by 2.60%, 1.54%, 0.51%, 0.20% and 0.13% respectively.
- Nairametrics expects intending buyers to seek the advice of a certified stockbroker.