SOVRENINS and FTNCOCOA soar as Nigerian stocks plunge

SOVRENINS and FTNCOCOA soar as Nigerian stocks plunge

The stock exchange market made a bearish trend at the end of today’s trading session, posting losses that decreased the index by -5.65 points. The All-Share Index decreased by -0.01% closing at 37,866.90 from 37,872.55 index points.

The stock exchange market value currently stands at N19.74 trillion. Its Year-to-Date (YTD) returns currently stand at -5.97%.The market breadth closed negative as SOVRENINS led 18 Gainers, and 16 Losers topped by IKEJAHOTEL at the end of today’s session.The stock market has declined -2,403.82 base points since the start of the year.

NGX ASI top gainers

SOVRENINS up +10.00% to close at N0.33FTNCOCOA up +9.76% to close at N0.45CWG up +9.65% to close at N1.25AIICO up +9.52% to close at N1.15REDSTAREX up +8.04% to close at N3.36

NGX ASI top losers

IKEJAHOTEL down -9.29% to close at N1.27UPDC down -9.09% to close at N1.30WAPIC down -8.47% to close at N0.54UPL down -7.24% to close at N1.41UNITYBNK down -6.35% to close at N0.59

Outlook

Market sentiments trend towards the bull as 18 gainers outweigh 16 losers.Nairametrics advises cautious buying in this era of growing uncertainties.

Source: Nairametrics

#SOVRENINS #FTNCOCOA #soar #Nigerian #stocks #plunge

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