LASACO, AIICO go bearish as stock market plunges

Nigeria’s stock market posted another loss at the end of today’s trading session. The All-Share Index decreased slightly by -0.08% to close at 38,256.76.

• The stock exchange market value currently stands at N19.95 trillion. Its Year-to-Date (YTD) returns currently stands at -5%.
• The market breadth closed negative as CILEASING led 17 Gainers, while 12 Loses were topped by LASACO at the end of today’s session showing a movement trending towards the bears.

Top gainers

1. CILEASING up +9.85% to close at N4.46
2. ROYALEX up +8.82% to close at N 74
3. CHIPLC up +7.27% to close at N0.59
4. NEIMETH up +7.02% to close at N1.83
5. INITSPLC up +6.82% to close at N0.47

Top losers

1. LASACO down -7.14% to close at N1.43
2. CHAMPION down -5.66% to close at N2.00
3. AIICO down -4.96% to close at N1.15
4. CHAMS down -4.76% to close at N0.20
5. MANSARD down -4.44% to close at N0.86

Outlook

• Market sentiments trend bearish as 17 losers are matched by 12 winners.
• Nairametrics however, advises cautious buying in this era of growing uncertainties