The Nigerian Stock Exchange market made a bullish recovery at the end of the trading session. The All-Share Index increased by +0.07 % to close at 38,799.83 from 38,766.61 index points.
- Nigerian Stock Exchange market value currently stands at NGN 20.31Tr. Its Year-to-Date (YTD) returns currently stands at -3.65%.
- The market closed beneath expectation as CHIPLC led 13 Gainers, and ROYALEX topped the 13 Losers chart showing a bullish movement by the NSE ASI.
Top gainers
- CHIPLC up +9.68% to close at N0.34
- JAPAULGOLD up +9.43% to close at N 0.58
- OANDO up +5.16% to close at N3.26
- AIICO up +5.00% to close at N1.26
- ZENITHBANK up +3.81% to close at N21.80
Top losers
- ROYALEX down -7.69% to close at N0.36
- STANBIC down -6.85% to close at N48.95
- JAIZBANK down -6.06% to close at N0.62
- HONYFLOUR down -5.04% to close to N1.13
- DAARCOMM down -4.76% to close at N0.20
Outlook
Nairametrics had a chat with an expert in the stock market Ogunwale Oluwadamilola, Research Analyst, Edgefield Capital Management Limited. She opined that we should be expecting a bullish momentum tomorrow saying, “Tomorrow’s market outlook is expected to have a similar upward trend in the overall performance of today’s market.”
She also reiterated attention to stocks in the financial services saying, “Stocks to look out for from deep technical analysis are in the financial service sector. Albeit, as we await the Q1 result of the quoted companies, the following stocks are on our watchlist: Zenith Bank Plc, Guaranty, Access bank, UCAP and Flour Mills.
Nairametrics however, advises cautious participation in the stock market in this era of growing uncertainties.
