SEPLAT, MRS rise amid sell off in NGX ASI

Nigeria’s stock exchange market made another bearish end at the close of Tuesday’s trading session posting a loss. The All-Share Index decreased by -1.48% to close at 38,445.09 from 39,022.52.

• Nigerian Stock Exchange market value currently stands at N20.04 Trillion. Its Year-to-Date (YTD) returns currently stand at -4.53%.
• The market breadth closed negative for the 3rd time this week as SEPLAT led 23 Gainers and 26 Losers topped by AIRTELAFRI at the end of today’s session, showing a consolidation.

Top gainers

1. SEPLAT up +10.0% to close at N682.00
2. MRS up +10.00% to close at N10
3. STERLNBANK up +9.74% to close at N1.67
4. JAPAULGOLD up +9.62% to close at N0.57
5. REGALINS up +8.82% to close at N0.37

Top losers

1. AIRTELAFRI down -10.00% to close at N837.00
2. CILEASING down -10.00% to close at N4.50
3. BOCGAS down -9.96% to close at N11.03
4. ROYALEX down -9.64% to close at N0.75
5. NNFM down -8.94% to close at N5.60

Outlook

Nigeria’s Stock Market saw 3 bearish turns the week and some analysts expect the NGX ASI to make a bullish recovery before the end of the week

• Market sentiments trend towards bears as 26 losers outweighed 23 winners.
• Nairametrics advises cautious buying in this era of growing uncertainties.