#EndSARS protest weighs on Nigerian Stock Market

Nigerian bourse closed flat on Wednesday trading session. The All Share Index closed at 28,344.33  points as against +0.02% appreciation recorded on Tuesday. Its Year-to-Date (YTD) returns currently stands at +5.60%.

• Nigerian bourse trading volume dropped lower, as volume dipped by 59.24% as against +45.14% uptick recorded in the previous session. ZENITHBANK, UBA, and GUARANTY were the most active to boost market turnover.
• COURTVILLE leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
• The Market breadth closed positive as ETERNA led 14 Gainers as against 11 Losers topped by ETRANZACT at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

• ETERNA up 9.82% to close at N4.81
• AFRIPRUD up 5.75% to close at N5.7
• GUINNESS up 3.33% to close at N15.5
• GUARANTY up 1.52% to close at N30
• WAPCO up 2.06% to close at N17.35

Top losers

• ETRANZACT down 9.91% to close at N1.91
• STANBIC down 3.41%to close at N42.5
• FCMB down 3.83% to close at N2.26
• ARDOVA  down 3.61% to close at N12
• CAVERTON down 2.78% to close at N1.75

Outlook

Nigerian bourse closed neutral mid-week amid rising crude oil prices and falling U.S dollar index across the global market spectrum.

• Ongoing protests participated in by a significant amount of  Nigerian youths, weighed on the broad market sentiments.
• That said, buying pressures from notable blue chips stocks as WAPCO and GTBank got neutralized by selling pressures seen in Stanbic IBTC and FCMB.
• Nairametrics envisages cautious buying on growing political unrest across Nigerian urban cities.