GUINNESS champions NSE ASI recovery

The Nigerian Stock Exchange market made a recovery at the end of the trading session today. The All-Share Index increased by +0.09% to close at 38,636.15 from 38,601.83 index points.

GUINNESS made a complete U-turn from the previous day loss. Analysts’ speculation of recovery saw a slight affirmation and investors are still optimistic about an NSE ASI bull run.

• The Nigerian Stock Exchange market value currently stands at NGN 20.21Tr. Its Year-to-Date (YTD) returns currently stands at -4.06%.
• The market closed in profit but saw more downturn as GUINNESS led 14 Gainers, and NNFM topped the 22 Losers chart with a noticeable bearish movement by the NSE ASI.

 Top gainers

1. GUINNESS up +9.96% to close at N26.50
2. MEYER up +8.16% to close at N0.53
3. WEMABANK up +5.26% to close at N0.60
4. CHAMS up +4.76% to close at N0.22
5. CAVERTON up +2.56% to close at N2.00

Top losers

1. NNFM down -10.00% to close at N24.10
2. FIDSON down -9.89% to close at N0.65
3. CUTIX down -9.78% to close at N2.52
4. STERLNBANK down -8.33% to close at N2.00
5. WAPIC down -8.00% to close at N0.60

 Outlook

Analysts’ predictions of a recovery in the market held with a slightly bullish trend at the end of the trading session on Wednesday.

Analysts are still optimistic about a recovery from the financial and consumer sectors that will push the NSE-ASI back to profit.

However, the watchlist has seen some changes. The following stocks are on our watchlist: Zenith Bank Plc, Guaranty, Access Bank, STANBIC, JAPAULGOLD, GUINNESS and Flour Mills.

• Nairametrics, however, advises cautious participation in the stock market in this era of growing uncertainties.