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Home Markets Equities Stock Market

Bears take a grip on Nigerian stock market, investors lose N132 billion

Olumide Adesina by Olumide Adesina
February 19, 2021
in Stock Market
Nigerian Stock Exchange, Nigerian Stocks, Daily market summary, NSE, Bourse bows to bears as ASI dip 0.55% on Friday, NSE: Bears dominant reign continues as ASI shed 4.91% on Tuesday, Bearish trend persists at Nigerian Stock Exchange, as investors lose N456 billion, Bears return, Nigeria’s local bourse drops 0.12%, Bears return Nigeria's ASI index down 3.12% Investors lose N370 billion, Bulls lift Nigerian bourse up 0.10%, as trading volume picks up,  BUACEMENT, CADBURY, WAPCO Bring the Bears to Party, Investors Lose N198.05 Billion
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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

  1. RTBRISCOE up 10.00% to close at N0.22
  2. CORNERST up 8.47% to close at N0.64
  3. ROYALEX up 8.00% to close at N0.27
  4. NAHCO up 6.51% to close at N2.29
  5. NIGERINS up 4.55% to close at N0.23

READ: Bears stage a big come back, Nigerian stocks investors lose N426 billion

Top losers

  1. UPL down 9.09% to close at N1.2
  2. CHAMS down 8.33% to close at N0.22
  3. UPDCREIT down 7.76% to close at N5.35 –
  4. MULTIVERSE down 7.69% to close at N0.24
  5. 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.

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Tags: All Share IndexBearsNigerian bourseNigerian Stocks

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