Nigerian bourse ended the mid-week trading session on a bearish note. The All Share Index plunged by 0.44% to close at 39,697.62 index points as against the -0.59% drop observed on Tuesday its Year-to-Date (YTD) returns currently stands at -1.86%.
Investors’ losses on Wednesday stood at N91.86 billion. The Nigerian Stock Exchange market capitalization stood at N20.7 billion
The market turnover closed positive as volume moved up by +9.78% as against the -59.08% downtick recorded in the previous session. ZENITHBANK, GUARANTY, and UCAP were the most active to boost market turnover.
The market breadth closed negative as SEPLAT led 16 Gainers as against 29 Losers topped by JAPAULOIL at the end of today’s session – an unimproved performance when compared with the previous outlook.
Top gainers
- SEPLAT up 10.00% to close at N583
- AIICO up 5.22% to close at N1.21
- CORNERST up 5.17% to close at N0.61
- UAC-PROP up 5.00% to close at N0.84
- CUTIX up 4.21% to close at N2.23
Top losers
- JAPAULGOLD down 10.00% to close at N0.54
- NEM down 9.91% to close at N1.91
- CHAMPION down 9.76% to close at N1.85
- NPFMCRFBK down 9.47% to close at N1.72
- LINKASSURE down 8.93% to close at N0.51
Outlook
Nigerian stocks ended the mid-week trading session of the week on a negative note amid soaring oil prices prevailing at the U.S trading session.
- Downtrend was driven by price depreciation medium and small capitalized stocks amongst which are; NEM, JAPAUL GOLD, CHAMPION.
- Nairametrics expects intending buyers to seek the advice of certified stockbrokers.
