Nigerian stocks ended the third trading session of the week on a slightly bearish note. The All Share Index drifted lower slightly 0.04% to close at 38,706.13 index points as against the +0.41% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stand at -3.89%.
Nigerian Stock Exchange market value currently stands at N20.251 trillion.
Nigerian bourse trading turnover also printed negative as volume dipped by -19.68% as against +19.69% uptick recorded on Tuesday. GUARANTY, ZENITHBANK, and UBA were the most active to boost market turnover.
The market breadth closed positive as WAPIC led 12 Gainers as against 11 Losers topped by NCR at the end of today’s session – an improved performance when compared with the previous outlook.
WAPIC up 10.00% to close at N0.55
SFSREIT up 9.94% to close at N68.6
OANDO up 9.67% to close at N3.29
UNITYBNK up 9.09% to close at N0.72
LIVESTOCK up 2.63% to close at N1.95
NCR down 9.71% to close at N2.79
NEIMETH down 9.09% to close at N1.9
VITAFOAM down 5.16% to close at N7.35
MANSARD down 5.05% to close at N0.94
NEM down 4.57% to close at N2.09
Nigerian Stocks ended the mid-week trading session on a slightly bearish note, amid falling oil prices prevailing at the U.S trading session.
That said, significant gains from decent capitalized Stocks that include Oando, Unity Bank, Livestock Feeds couldn’t stop Nigerian stocks from closing slightly red, as sell-offs intensified among a significant number of insurance stocks except for WAPIC.
Nairametrics envisages cautious buying, on the sentiments that recent price action shows further market correction in the near term.
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