Bears take Nigerian stocks hostage, investors lose N82.4 billion

Nigeria’s all-share index fell further at the close of trading today, down by -0.40% to 39,364.67 points. Investors losses today stood at N82.35 billion.

• Year-to-date return and market capitalization settled at -2.26% and N20.5 trillion, respectively.
• Investor sentiment as measured by the market breadth closed negative with 12 advancers and 47 decliners.
• Across coverage sectors, the performance was bearish. The NSE insurance, banking, consumer goods, and oil & gas sectors dipped 4.04%, 1.54%, 1.47%, 64 basis points, and 0.65%, respectively.
• The flip side saw only the industrials improved marginally by 0.19%.

Top gainers

1. UPL up 9.91% to close at N1.22
2. MORISON up 9.09% to close at N0.6
3. CAP up 5.26% to close at N20
4. WAPCO up 3.59% to close at N20.2
5. LIVESTOCK up 3.17% to close at N2.28

Top losers

1. FIDSON down 10.00% to close at N4.41
2. NNFM down 9.97% to close at N6.32
3. ENAMELWA down 9.95% to close at N19.9
4. NEM down 9.95% to close at N1.72
5. NCR down 9.91% to close at N3.09

Outlook

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

• Today’s bearish trading session was inclined by sell pressure on consumer ticker, DANGSUGAR which lost -6.25%. JBERGER, ARDOVA, and UBA also declined by -7.88%, 9.85%, and -3.64%, respectively.
• Nairametrics expects intending buyers to seek the advice of certified stockbrokers.