[IT’S GETTING WORSE] How Nigerian Stocks Performed on Tuesday

The Nigerian equities market continued to shed points at the close of today’s trading session, as the Year-to-Date return drowned further to -16.88%. Market capitalization closed at NGN9.90tn after declining by NGN112.86bn, while the NSEASI returned -1.39% at the end of the day. Daily volume and turnover of transaction increased by 134.36% and 5.30%, while […]

The Nigerian equities market continued to shed points at the close of today’s trading session, as the Year-to-Date return drowned further to -16.88%. Market capitalization closed at NGN9.90tn after declining by NGN112.86bn, while the NSEASI returned -1.39% at the end of the day. Daily volume and turnover of transaction increased by 134.36% and 5.30%, while thirty-nine (39) and six (6) stocks pared and appreciated in prices respectively.

FIDELITYBK led the advancers after gaining 5.00% to settle at NGN1.26. Other top advancers in the day were, COSTAIN (+3.51%), FIDSON (+2.80%), STANBIC (+1.11%), and LEARNAFRICA (+1.01%). On the flip side, CAVERTON and PAINTCOM shed 9.52% and 5.00% in that order, while OANDO, JBERGER, and INTBREW declined by 4.99% apiece.

Across monitored African markets, the Kenyan equities market pared the most (-2.46%), followed by the Ghanaian (-0.71%) and Mauritian (-0.69%) equities market as at the time of reporting. On the domestic front, all NSE sector indices waned in the day save for the NSEINS10 which traded flat.

The People’s Bank of China has cut its interest rate by 0.25% to 4.6% (the fifth since November 2014), this may assist in resuscitating investor’s confidence in the equities market.

We do not envisage a deviation from current market trend for the rest of the week; however we note the possibility of considerable value investing activities which might lead to at least a day of positive return in the week.

Leave a Reply Cancel reply

Related Stories