Access, GTBank, Custodian end winning streak at Nigerian stock market

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The Nigerian bourse reversed its previous days gain, as the All Share Index declined by 0.38% to close at 25,312.05 index points. Thus, YTD loss currently stands at -5.71%.

Activity levels closed weak compared to the previous trading session, as total volume and value declined by -23.53% and -24.72% to close at 270.19million units and N5.29billion respectively. FBNH was the most traded stock by volume at 41.3 million units, while DANGCEM topped by value at N2.57 billion.

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Market breath was slightly negative with 17 losers led by CUSTODIAN (-7.14%), against 16 gainers, topped by SKYAVN (+9.69%).

Performance across sectors closed bearish, as three out of the five major sub-indices posted losses. Decline in ACESS (-5.11%) and GUARANTY (-2.00%) spurred sustained losses in the Lenders’ Index (-2.12%), trailed distantly by the Oil & Gas (-0.39%) and Insurance index (-0.555), on the back of price decline in OANDO (-3.57%), CUSTODIAN (-7.14%) and AIICO (-5.22%).

Gains in DANGSUGAR (+6.76%), FLOURMILL (+4.25%) and DANGCEM (+1.00%) buoyed a 0.89% and 0.23% improvement in the Consumer Goods and Industrial indices respectively.

Top gainers

SKYAVN up 9.69% to close at N2.49; CILEASING up 9.28% to close at N4.85; DANGSUGAR up 6.76% to close at N15; FLOURMILL up 4.25% to close at N20.85; DANGCEM up 1.00% to close at N141.9.

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Top losers

CUSTODIAN down 7.14% to close at N5.85; ACCESS down 5.11% to close at N6.5; GLAXOSMITH down 5.06% to close at N7.5; GUARANTY down 2.00% to close at N24.5; and MTNN down 1.69% to close at N116.

Outlook

Market sentiment finished bearish on Thursday, as significant profit taking was noticed, especially among financial stocks. Nairametrics envisages cautious buying of Nigerian stocks.