Nigerian stock market ended the week at a near stalemate. The All-share index dropped slightly by 0.06% to 40,186.70 index points following fifteen sessions of losses over the past 3 weeks.
- Year-to-date return and market capitalization settled at -0.21% and N21.02 trillion, respectively. Investor sentiment as measured by the market breadth was negative today, weaker at 0.71x on 15 advancers and 21 decliners.
- Today’s market performance was mostly driven by a significant dip in bellwether STANBIC by -10.00%. WAPCO & SEPLAT also fell by -2.15% and -3.46% respectively.
- A total volume of 307.7 million units of shares, valued at N2.90 billion exchanged hands in 4,393 deals.
- The most traded stocks by volume were FBNH (85.57 million units), UCAP (53.32 million units), and UBA (23.34 million units), while FBNH (N624 million), ZENITHBANK (N431.95 million), and GUARANTY (N348.55 million) topped the value chart.
- LIVESTOCK up 9.27% to close at N2.24
- PORTPAINT up 8.70% to close at N3.25
- FTNCOCOA up 8.16% to close at N0.53
- UCAP up 6.19% to close at N6.35
- AFRIPRUD up 5.80% to close at N7.3
- STANBIC down 10.00% to close at N38.7
- MAYBAKER down 9.89% to close at N4.19
- MULTIVERSE down 8.33% to close at N0.22
- NEIMETH down 7.80% to close at N2.01
- ROYALEX down 7.41% to close at N0.25
Nigerian stocks ended the last trading session of the week 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 around $63/barrel.
- That being said, significant losses were seen from a few NSE30 stocks that include Stanbic IBTC, SEPLAT, WAPCO, and intensified sell-offs among top pharmaceutical stocks and medium capitalized stocks weighed slightly on the bourse.
- 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.
Strong gains from WAPCO, Unity Bank limit Bears grip on Nigerian Stocks
Strong gains from WAPCO couldn’t stop Nigerian stocks from closing slightly red, as sell-offs intensified among medium capitalized stocks.
Nigerian stocks ended the last trading session on a near-stale mate. the All Share Index dropped by -0.08% to close at 39,331.61 index points as against the -0.40% plunge recorded on Thursday. Its Year-to-Date (YTD) returns currently stand at -2.33%.
- However, the market trading turnover on Friday printed positive as volume ticked up by +19.18% as against the +101.84% uptick recorded yesterday.
MANSARD, ZENITHBANK, and FBNH were the most active to boost market turnover.
- The market breadth closed negative as MORISON led 20 Gainers as against 27 Losers topped by TRIPPLEG at the end of today’s session – an unimproved performance when compared with the previous outlook.
- MORISON up 10.00% to close at N0.66
- WAPCO up 9.90% to close at N22.2
- NEM up 9.88% to close at N1.89
- SKYAVN up 9.54% to close at N3.33
- UNITYBNK up 8.96% to close at N0.73
- TRIPPLEG down 10.00% to close at N0.72
- TRANSEXPR down 10.00% to close at N0.81
- UHOMREIT down 9.96% to close at N36.6
- CUTIX down 9.95% to close at N1.81
- SCOA down 9.90% to close at N2.64
Nigerian Stocks ended the mid-week 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 $68.70/barrel.
- That being said, strong gains from WAPCO couldn’t stop Nigerian stocks from closing slightly red, as sell-offs intensified among medium capitalized stocks.
- Nairametrics envisages cautious buying, on the sentiments that recent price action shows further market correction as bargain hunters keep a tab on Nigerian macros.
Bears take Nigerian stocks hostage, investors lose N82.4 billion
Investor sentiment as measured by the market breadth closed negative with 12 advancers and 47 decliners.
Nigeria’s all-share index fell further at the close of trading today, down by -0.40% to 39,364.67 points. Investors losses today stood at N82.35 billion.
- Year-to-date return and market capitalization settled at -2.26% and N20.5 trillion, respectively.
- Investor sentiment as measured by the market breadth closed negative with 12 advancers and 47 decliners.
- Across coverage sectors, the performance was bearish. The NSE insurance, banking, consumer goods, and oil & gas sectors dipped 4.04%, 1.54%, 1.47%, 64 basis points, and 0.65%, respectively.
- The flip side saw only the industrials improved marginally by 0.19%.
- UPL up 9.91% to close at N1.22
- MORISON up 9.09% to close at N0.6
- CAP up 5.26% to close at N20
- WAPCO up 3.59% to close at N20.2
- LIVESTOCK up 3.17% to close at N2.28
- FIDSON down 10.00% to close at N4.41
- NNFM down 9.97% to close at N6.32
- ENAMELWA down 9.95% to close at N19.9
- NEM down 9.95% to close at N1.72
- NCR down 9.91% to close at N3.09
Nigerian stocks ended the fourth trading session on a weaker note amid soaring oil prices prevailing at the U.S trading session.
- Today’s bearish trading session was inclined by sell pressure on consumer ticker, DANGSUGAR which lost -6.25%. JBERGER, ARDOVA, and UBA also declined by -7.88%, 9.85%, and -3.64%, respectively.
- Nairametrics expects intending buyers to seek the advice of certified stockbrokers.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Seplat falls into a loss in FY 2020
- 2020 FY Results: Cornerstone Insurance Plc reports a 61.1% decline in profit
- Ellah Lakes increases operating expenses by 33.36% in HY 2020
- 2020 FY Results: Nigerian Breweries reports a 54.3% decline in profits in 2020
- Abbey Mortgage Bank projects N51.08 million profit in Q2 2020.