Nigerian bourse closed negative on Thursday. The All Share index declined further by -0.25% to close at 34,968.94 from 35,056.82 points.
- Year-to-date and market capitalization similarly dropped by -0.25% to settle at 30.40% and N18.27 trillion respectively.
- A total volume of 289.3 million units of shares, valued at N7.34billion exchanged hands in 4,878 deals. UBA was the most traded shares by volume at 34.4 million units, while MTNN topped by value at N4.37billion.
- The market breadth index was negative with 25 losers against 13 gainers. CADBURY (-5.43%) led the laggards today, while ARDOVA (+7.69%) was the top gainer.
- The sectorial performance was mixed as the Banking, Insurance, and Consumer Goods indexes dipped -2.07%, -0.82%, and -0.20%, while the Oil & Gas gained +0.35%. The Industrial sector closed flat.
Top Gainers
- MTNN up 0.77% to close at N156.2
- ARDOVA up 7.69% to close at N14
- REDSTAREX up 4.00% to close at N3.38
- CUTIX up 5.56% to close at N1.9
- UPL up 4.26% to close at N1.47
Top Losers
- CADBURY down 5.43% to close at N8.7
- UBA down 5.20% to close at N8.2
- ZENITHBANK down 1.88% to close at N23.55
- FLOURMILL down 1.85% to close at N26.5
- GUARANTY down 1.47% to close at N33.6
Outlook
Nigerian stocks drifted lower at the fourth trading session of the week, as significant sell-offs seen in Nigerian tier -1 banks added pressure on the Nigerian All-Share Index.
- Stock experts anticipate more consolidation moves as investors become more choosy on stocks to buy taking into consideration that experts don’t see any new highs now till next year.
- That said, Nairametrics envisages cautious buying on the bias that stock traders are expected to be a bit wary amid recent macros prevailing at the Nigerian currency market.
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