Nigerian stocks make recovery as JAPAULGOLD drops

The Nigerian Stock Exchange market made a recovery at the end of the trading session. The All-Share Index increased by +0.61% to close at 38,808.01 from 38,571.89 index points. CHAMS made the top position on the Gainers list.

• Nigerian Stock Exchange market value currently stands at NGN 20.32 trillion. Its Year-to-Date (YTD) returns currently stands at -3.63%.
• The market closed in loss as it saw more downturns, CHAMS led 21 Gainers, and JAPAULGOLD topped the 12 Losers chart with a noticeable bullish movement by the NSE ASI.

Top gainers

• CHAMS up +10.00% to close at N0.22
• UAC-POP up +9.72% to close at N0.76
• GUINNESS up +9.26% to close at N31.85
• NNFM up +9.18% to close at N5.35
• PZ up +8.33% to close at N4.50

Top losers

• JAPAULGOLD down -10.00% to close at N0.63
• STERLNBANK down -9.78% to close at N1.48
• FCMB down -8.90% to close at N2.66
• MBENEFIT down -8.11% to close at N0.34
• ACCESS down -6.17% to close at N7.60

Outlook

The NSE ASI saw a bullish recovery from the previous day loss. Predictions of the dominance of consumer goods were affirmed with the presence of GUINNESS and PZ in the top 5 Gainers list.

However, the following stocks remain 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.