Bears take a grip on Nigerian stock market, investors lose N132 billion

Nigerian stock market dropped further today by 0.63% to 40,465.32 index points. Year-to-date return and market capitalization settled at -0.15% and N21.03 trillion respectively.

• Activity level improved today compared to yesterday as 426.2 million shares, valued at N4.75 billion exchanged hands in 4,972 deals.
• Nigerian investors’ losses on Thursday stood at N132.42 billion.
• Investor sentiment as measured by the market breadth was negative today at 0.33x on 17 advancers and 23 decliners. UPL (-9.09%) led the laggards today, while RTBRISCOE (+10.00%) finished top gainer.

READ: Nigerian stocks ranked world’s best-performing stock market

Top gainers

1. RTBRISCOE up 10.00% to close at N0.22
2. CORNERST up 8.47% to close at N0.64
3. ROYALEX up 8.00% to close at N0.27
4. NAHCO up 6.51% to close at N2.29
5. NIGERINS up 4.55% to close at N0.23

READ: Bears stage a big come back, Nigerian stocks investors lose N426 billion

Top losers

1. UPL down 9.09% to close at N1.2
2. CHAMS down 8.33% to close at N0.22
3. UPDCREIT down 7.76% to close at N5.35 –
4. MULTIVERSE down 7.69% to close at N0.24
5. JAPAULGOLD down 5.56% to close at N0.68

READ: Bears reverse gains at Nigerian Stock Market, investors lose N62.6 billion

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.

• Across coverage sectors, the performance was mostly negative as all tracked indices closed in the red. The NSE banking, insurance, consumer goods, energy and industrials lagged by 2.60%, 1.54%, 0.51%, 0.20% and 0.13% respectively.
• Nairametrics expects intending buyers to seek the advice of a certified stockbroker.