Bears dominate Nigeria’s stock market

Nigeria’s stock exchange market reached another bearish end on Tuesday’s trading session. The All-Share Index decreased by -0.71% to close at 39,022.52

• The stock exchange market value currently stands at N20.35 trillion. Its Year-to-Date (YTD) returns currently stand at -3.1%.
• The market breadth closed negative for the 2nd time this week as ABCTRANS led 16 Gainers, and 23 Losers topped by PORTPAINT at the end of today’s session.

Top gainers

1. ABCTRANS up +10.0% to close at N0.44
2. INITSPLC up +10.00% to close at N 44
3. ETERNA up +9.93% to close at N7.97
4. TRANSCOHOT up +9.85% to close at N3.57
5. WEMABANK up +5.45% to close at N0.58

Top losers

1. PORTPAINT down -9.85% to close at N2.47
2. CHAMPION down -9.68% to close at N1.96
3. SCOA down -9.30% to close at N1.95
4. REGALINS down -8.11% to close at N0.34
5. SUNUASSUR down -7.41% to close at N0.50

Outlook

• Some analysts expect the NGX ASI to make a bullish recovery before the end of the week.
• Market sentiments trend towards bears as 23 losers outweigh 16 winners.
• Nairametrics however, advises cautious buying in this era of growing uncertainties.