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.
Top gainers
- 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
Top losers
- 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
Outlook
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.
