Zenith Bank, Flourmill, Access Bank neutralize gains from Ecobank, Dangote Sugar

Nigerian bourse closed today on a negative note. The All Share index dropped by 0.09% to close at 35,033.74 points as against 0.21% depreciation recorded on Monday. Its Year-to-Date (YTD) returns currently stands at +30.52%. Nigerian Stock exchange capitalization now stands at N18.31 trillion.

• Nigerian Stock market trading turnover closed bearish as volume moved dipped by -5.36% as against +10.74% gain recorded on Monday trading session. UBA, ZENITHBANK, and FBNH were the most active to boost market turnover.
• The Market breadth closed negative as FTNCOCOA led 14 Gainers as against 17 Losers topped by FLOURMILL at the end of today’s session – an unimproved performance when compared with the previous outlook.
• BETAGLAS leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.

Top gainers

1. FTNCOCOA up 9.68% to close at N0.34
2. ETI up 8.33% to close at N5.85
3. OANDO up 2.81% to close at N2.93
4. DANGSUGAR up 1.61% to close at N18.9
5. UACN up 1.39% to close at N7.3

Top losers

• FLOURMILL down 4.53% to close at N25.3
• NAHCO down 4.17% to close at N2.3
• ACCESS down 2.35% to close at N8.3
• WAPCO down 1.32% to close at N22.5
• ZENITHBANK down 1.27% to close at N23.4

Outlook

Nigerian stock market closed slightly bearish at the second trading session of the week.

• Significant sell-offs have seen in Zenith Bank, Flourmill, and Access bank neutralized gains from Ecobank and Dangote Sugar.
• Nairametrics envisages cautious buying amid profit-taking expected to remain at least in the near term, taking into consideration rising COVID-19 caseloads seen prevailing across key international markets.