The Nigerian Stock Exchange market made another bearish end posting a loss at the end of the trading session. The All-Share Index decreased by +0.02 % to close at 38,774.03 from the 38,766.61 index points.
- The Nigerian Stock Exchange market value currently stands at NGN 20.29Tr. Its Year-to-Date (YTD) returns currently stand at -3.72%.
- The market closed beneath expectation as JAIZBANK led 12 Gainers, and STERLNBANK topped the chart of 27 Losers, showing a bearish movement by the NSE ASI.
Top gainers
- JAIZBANK up +10.00%to close at N0.66
- INITSPLC up +9.52% to close at N 0.46
- ROYALEX up +8.33% to close at N0.39
- JAPAULGOLD up 8.16% to close at 0.53
- CHIPLC up +6.90% to close at N0.31
Top losers
- STERLNBANK down -9.47% to close at N1.53
- PHARMDEKO down -9.46% to close at N1.34
- PRESTIGE down -8.70% to close at N0.42
- ARDOVA down -6.91% to close at N14.15
- LIVESTOCK down -5.88% to close at N1.76
Outlook
Nairametrics had a chat with an expert in the stock market Mr. Olodun Emmanuel, Research Analyst, Edgefield Capital Management Limited. He opines that we should be expecting a recovery tomorrow saying, “Tomorrow we expect a slight form of recovery in the financial services sector which is supposed to positively impact the overall performance of the market.”
He also draws our attention to stocks in the financial services saying, “Due to the financial sector volatility and the expected recovery for the negatives recorded today particularly the banking subsector: Zenith Bank, GTBank and Access bank. Based on Fundamentals, we expect Q1 results any moment from now as such, the following stocks are on our watchlist: Zenith Bank, GTBank, UCAP, Flourmills, and WAPCO.”
- Nairametrics, however, advises cautious buying in this era of growing uncertainties.
