GTBank, Nigerian Breweries, CAP drop, investors lose N42 billion

Nigerian bourse ended Wednesday’s trading session on a bearish note.

The All Share Index dipped lower by 0.26% to close at 35,056.82 points as against the 0.30% gain recorded yesterday. Its Year-to-Date (YTD) returns currently stands at +30.60%.

READ: CUTIX Plc announces appointment of non-executive directors

• Nigerian Stock Exchange market capitalization now stands at N18.323 trillion. Investors lost N42 billion in the mid-week trading session.
• Nigerian trading turnover at Wednesday’s trading session, however, printed positive as volume ticked by 19.72%, as against the 25.83% drop recorded on Tuesday.
• ACCESS, FBNH, and ZENITHBANK were the most active to boost market turnover.
• The market breadth closed negative as AIICO led 19 Gainers as against 22 Losers topped by NNFM at the end of today’s session – an unimproved performance when compared with the previous outlook.
• CAP leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.

READ: Cryptos: Nigerian financial experts talk risks associated with trading digital assets

Top gainers

1. AIICO up 9.90% to close at N1.11
2. CUTIX up 7.14% to close at N1.8
3. UBA up 5.49% to close at N8.65
4. STANBIC up 3.90% to close at N44
5. MAYBAKER up 2.94% to close at N3.5

READ: Nigeria’s inflation rate jumps to 14.23% in October 2020

Top losers

1. NNFM down 9.67% to close at N6.26
2. NB down 7.05% to close at N56
3. CAP down 6.98% to close at N20
4. GUARANTY down 2.57% to close at N34.1
5. FLOURMILL down 2.17% to close at N27

READ: Ethereum yearly gains up by 279%, nears $600

Outlook
Nigerian Stocks ended the third trading session for the week on a bearish note.

• Selling pressure was significantly seen in blue-chip stocks like GTBank, Nigerian Breweries, CAP, Flour mills, as investors began a significant amount of profit-taking across the market spectrum.
• Nairametrics envisages cautious buying, as institutional investors reduce some of their long positions amid growing uncertainty playing out in Nigeria’s currency market.

Explore Data on the Nairametrics Research Website