Pullback on NSE ASI amid Prestige and Wema Bank surge

The Nigerian Stock Exchange market posted a loss at the end of the trading session today as predicted by analysts. The All-Share Index declined by -0.03% to close at 39,305.48 from 39,318.52 index points.

• Nigerian Stock Exchange market value currently stands at NGN 20.58Tr. Its Year-to-Date (YTD) returns currently stands at – 4%.
• The market closed in loss as PRESTIGE led 23 Gainers, and 16 Losers were topped by CHIPLC, with a strong bullish movement by the NSE ASI.

NSE ASI Top gainers

1. PRESTIGE up +9.52% to close at N0.46
2. WEMABANK up +8.77% to close at N0.62
3. ROYALEX up +7.69% to close at N0.42
4. CHAMPION up +7.46% to close at N2.16
5. REGALINS up +7.41% to close at N0.29

NSE ASI Top losers

1. CHIPLC down -9.09% to close at N0.30
2. IUPL down -8.59% to close at N1.17
3. CHAMS down -4.55% to close at N0.21
4. HONYFLOUR down -4.44% to close at N1.29
5. STERLNBANK down -4.38% to close at N1.53

NSE ASI Outlook

The NSE ASI saw a bearish move opposing gains held at the previous trading session. The pullback anticipated by speculators was affirmed today. The stock market is expected to make a recovery tomorrow. Nevertheless, the following stocks are on our watchlist: PZ, CAP, OANDO, STANBIC, HONYFLOUR, GUINNESS and Flourmills.

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