Nigerian Breweries, Jaiz Bank plunge amid profit taking

Nigerian stocks on Monday, March 15, 2021, closed the trading session with the Bearish note. The All-Share Index (ASI) dropped by 0.22% to settle at 38,561.84 index points almost doubling the loss of Friday last week.

WAPIC (+10%) led the gainers for the day, while REGALINS (-9.96%) topped the losers.

Performance across sectors was bearish as 2 of the 5 indexes under our coverage trended bearishly while the industrial sector showed no gains or losses.

The banking index led laggards, down by -1.01% with the major loser being JAIZBANK (-4.62%).

Contrarywise, the oil and gas goods index, and Insurance closed as the gainer, up marginally by +0.66% and +1.98% respectively.

Top gainers

• WAPIC up 10.0% to close at N0.55
• NNFM up 9.73% to close at N6.2
• SMURFIT up 8.33% to close at N0.26
• NEM up 7.88% to close at N2.1
• BERGER up 7.44% to close at N6.05

Top losers

• REGAINS down -9.09% to close at N0.3
• LIVESTOCK down -8.50% % to close at N1.83
• NB down -5.34% to close at N47
• LASACO down -4.62% to close at N1.24
• JAIZBANK down -4.62% to close at N0.62

Outlook

• Nigerian Stocks ended the first trading session south amid soaring oil prices.
• Nigerian stocks are under pressure amid improvement in Nigerian debt instrument yields that include bonds and treasury bills.
• Nairametrics envisages you seek the advice of a certified financial advisor when choosing stocks to buy.