Nigerian stocks ended Tuesday’s trading session negative. Consequently, the NSE All-Share Index fell 0.59% to settle at 39,697.62 points, hence, the YTD performance retracted to 1.17%.
- A total of 222.5million shares, worth N5,390 billion were traded in 4,470 deals. Transactions in the shares of Zenith Bank topped the activity chart with 48.10 million shares valued at N1.23 billion.
- Across coverage sectors, the performance was mostly negative as all tracked indices closed negative for the day save for the NSE insurance which gained +0.21%.
- The NSE consumer goods, oil & gas, industrial, and banking indexes fell by 3.86%, 0.88%, 0.41%, and 0.12%, respectively.
- The Nigerian stock market breadth closed negative as 26 stocks posted 28 declines while 17 stocks appreciated.
Top gainers
- ACADEMY up 9.76% to close at N0.45
- PZ up 9.38% to close at N5.25
- BETAGLAS up 8.00% to close at N54
- ROYALEX up 8.00% to close at N0.27
- REGALINS up 7.69% to close at N0.28
Top losers
- MBENEFIT down 10.00% to close at N0.36
- ARDOVA down 9.97% to close at N16.25
- CHAMPION down 9.69% to close at N2.05
- INITSPLC down 9.62% to close at N0.47
- STERLNBANK down 8.75% to close at N1.46
Outlook
Nigerian bourse suffered significant losses as investors sold ARDOVA (-9.97%), STERLNBANK (-8.75%), WAPCO (-7.08%), and NESTLE (-6.90%).
- 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.