Dangote, Zenith Bank, Champion plunge, Nigerian stock investors lose N112 billion

Nigerian stocks ended their fourth trading session on a negative note. The All Share Index plunged by 0.51% to close at 41,785.80 index points as against a 0.10% drop recorded on Wednesday.

• Its Year-to-Date (YTD) returns currently stands at +3.76%. Investors lose N112.05 billion.
• Nigerian bourse trading turnover on Thursday, however, printed positive as volume ticked up by 24.68% as against the -9.21% plunge recorded yesterday. FBNH, GUARANTY, and UBN were the most active to boost market turnover.
• The market breadth closed negative as MAYBAKER led 21 Gainers as against 24 Losers topped by NNFM at the end of today’s session – an improved performance when compared with the previous outlook.

READ: Lafarge gains N111.1 billion on NSE in 14 trading sessions

Top gainers

1. MAYBAKER up 7.69% to close at N4.9
2. ARDOVA up 5.56% to close at N19
3. FCMB up 5.42% to close at N3.5
4. PRESCO up 0.67% to close at N75
5. ETERNA up 2.68% to close at N5.75

READ: Shell worried about its Nigerian onshore operations amid continued theft and sabotage

Top losers

1. NNFM down 9.94% to close at N7.88
2. CHAMPION down 9.73% to close at N3.06
3. JBERGER down 6.19% to close at N19.7
4. DANGCEM down 2.54% to close at N230
5. ZENITHBANK down 0.74% to close at N26.75

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Outlook

Nigerian stocks ended the fourth trading session of the week on a negative note amid soaring oil prices prevailing at the U.S trading session.

• The market struggled to close in the positive territory as profit-taking was seen on stocks across the board.
• Nairametrics expects you to seek the advice of a certified stockbroker or financial advisor in choosing stocks to buy, as some Nigerian stocks exhibit cyclic.