ROYALEX and REGALINS upsurge amid dip in the NGX ASI

Nigeria’s stock exchange market posted losses at the end of today’s trading session, still settling with the bears after a week-long plunge in the past week. The All-Share Index decreased slightly by -0.1% to close at 38,287.58 from 38,324.07.

• Nigeria’s stock exchange market value currently stands at N19.98 Trillion. Its Year-to-Date (YTD) returns currently stands at -4.92%.
• The market breadth closed negative at the start of the week as ROYALEX led 18 Gainers and ABCTRAN topped 17 Losers at the end of today’s session showing a bearish movement.

Top gainers

1.  ROYALEX up +9.68% to close at N0.68
2. REGALINS up +8.82% to close at N 0.37
3. CHIPLC up +7.84% to close at N0.55
4. SOVRENINS up +7.69% to close at N0.28
5. JAPAULGOLD up +7.55% to close at N0.57

Top losers

1. ABCTRANS down -9.76% to close at N0.37
2.  ENAMELWA down -9.75% to close at N16.20
3. UAC-POP down -8.43% to close at N0.76
4. JAIZBANK down -6.45% to close at N0.58
5. COURTVILLE down -4.76% to close at N0.20

Outlook

Nigeria’s stock market saw 5 bearish turns last week and began the week with a similar loss today. However, some experts remain optimistic about a recovery in the NGX ASI.

• Market sentiments trend bearish although speculators predict a recovery as 17 losers are matched by 18 winners.
• Nairametrics advises cautious buying in this era of growing uncertainties.