UACN and FCMB advance as WAPIC drops

The Nigerian Stock Exchange market posted gains at the end of the trading session today. The All-Share Index increased by +0.08% to close at 38,840.31 from 38,808.01 index points. UACN sits atop the Gainers list.

• The Nigerian Stock Exchange market value currently stands at NGN 20.32Tr. Its Year-to-Date (YTD) returns currently stands at – 3.55%.
• The market closed in profit as UACN led 15 Gainers, and WAPIC was top among 14 Losers with a noticeable bullish movement by the NSE ASI.

Top gainers

1. UACN up +10.00% to close at N11.00

2. FCMB up +9.77% to close at N2.92

3. UPL up +9.35% to close at N1.17

4. NNFM up +9.35% to close at N5.85

5. HONYFLOUR up +9.24% to close at N1.30

Top losers

1. WAPIC down -8.70% to close at N0.42

2. FTNCOCOA down -8.00% to close at N0.46

3. UNITYBNK down -7.81% to close at N0.59

4. UAC-PROP down -5.06% to close at N0.75

5. JAPAULGOLD down -4.76% to close at N0.60

Outlook

The NSE ASI saw a bullish move supporting last Friday’s gains. Predictions of the dominance of consumer goods and the banking sector were affirmed with the presence of UACN and FCMB in the top 5 gainers. However, the following stocks are on our watchlist: Zenith Bank Plc, Guaranty, Access bank, STANBIC, HONYFLOUR, GUINNESS and Flourmills.

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