Bears grip the NGX ASI amid surge in IKEJAHOTEL

The stock exchange market made a bearish trend at the end of today’s trading session posting losses that decreased the index by 8.72 points. The All-Share Index increased by +0.02% to close at 37,898.56.

• The stock exchange market value currently stands at N19.73 trillion. Its Year-to-Date (YTD) returns currently stands at -8.72%.
• The market breadth closed negative as TRIPPLEG led 20 Gainers, and 16 Losers topped by ROYALEX at the end of today’s session.
• The stock market has declined -2,363.44 basepoints since the start of the year.

NGX ASI top gainers

1. TRIPPLEG up +10.00% to close at N0.77
2. IKEJAHOTEL up +9.77% to close at N1.46
3. CWG up +9.57% to close at N1.26
4. LEARNAFRCA up +9.52% to close at N1.15
5. WEMABANK up +9.52% to close at N0.69

NGX ASI top losers

1. ROYALEX down -9.84% to close at N0.55
2. OANDO down -8.51% to close at N3.01
3. MBENEFIT down -6.98 % to close at N0.40
4. REGALINS down -6.52% to close at N0.43
5. MCNICHOLS down -3.52% to close at N0.77

Outlook

• Market sentiments trend towards the bulls as 20 gainers outweigh 16 losers.
• Nairametrics however, advises cautious buying in this era of growing uncertainties