Dangote, Unilever stop bearish run, investors gain N167 billion

Nigerian stocks ended the third trading session of the week on a bearish note. The All Share Index plunged by 1.96% to close at 40,696.01 index points as against the 0.13% plunge recorded yesterday.

Nigerian Stock Exchange market value now stands at N21.29 trillion. Its Year-to-Date (YTD) returns currently stands at +1.06%. Investors lost N425.92 billion.Nigerian stocks trading turnover on Wednesday ticked up as volume rallied by 19.92% as against the 10.10% downtick recorded on Tuesday.
ZENITHBANK, FBNH, and GUARANTY were the most active to boost market turnover.The market breadth at the Nigerian Stock market ended negative as NIGERINS led 13 Gainers as against 35 Losers topped by FIDSON at the end of today’s session – an unimproved performance when compared with the previous outlook.Top gainersNIGERINS up 10.00% to close at N0.22CHAMPION up 9.82% to close at N3.02WAPIC up 7.41% to close at N0.58ACADEMY up 6.06% to close at N0.35GUINNESS up 4.83% to close at N20.6Top losersFIDSON down 10.00% to close at N5.4CAP down 10.00% to close at N18REGALINS down 10.00% to close at N0.27SOVRENINS down 10.00% to close at N0.27SUNUASSUR down 10.00% to close at N0.81Outlook

Nigerian bourse ended the mid-week trading session on a negative note. NSE30 stocks like Guinness couldn’t stop the bleeding amid record profit-taking notable among medium capitalized stocks.

Selling pressures intensified on macros coming from Nigeria’s currency market facing an unusual level of FX scarcity, which kept significant pressure on Nigeria’s local currency.

Nairametrics envisages you seek the advice of a certified financial advisor when choosing stocks to buy.

Source: Nairametrics

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