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.
Top gainers
- 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
Top losers
- 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
Outlook
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.