You are here: HomeBusiness2021 04 29Article 435343

Business News of Thursday, 29 April 2021

Source: nairametrics.com

Bears dominate the Nigerian stock market

Nigerian Stock Exchange market value currently stands at N20.3Trillion Nigerian Stock Exchange market value currently stands at N20.3Trillion

The Nigerian Stock Exchange market made another bearish end at Wednesday’s trading session posting a loss at the end of the session. The All-Share Index decreased by -1.33% to close at 38,781.48 index points.

Nigerian Stock Exchange market value currently stands at N20.3Trillion. Its Year-to-Date (YTD) returns currently stand at -3.04%.The market breadth closed negative for the 2nd time this week as CHIPLC led 19 Gainers, and 25 Losers topped by FTNCOCOA at the end of today’s session showing a consolidation as movement is not certain.Top gainers

CHIPLC up +10.0% to close at N0.33PORTPAINT up +8.33% to close at N 60ROYALEX up +7.14% to close at N0.45ABCTRANS up +6.90% to close at N0.31JAPAULGOLD up +5.17% to close at N0.61Top losers

FTNCOCOA down -10.00% to close at N0.36NEIMETH down -8.95% to close at N1.73INTBREW down -8.77% to close at N5.20PZ down -7.41% to close at N5.00DANGCEM down -7.27% to close at N204.00Outlook

The Nigerian Stock Market took another bearish turn plunging last week’s Bull run further downwards. Some analysts expect the NSE ASI to make a bullish recovery before the end of the week

Market sentiments trend towards bears as 19 losers outweighed 25 winners.Nairametrics, however, advises cautious buying in this era of growing uncertainties.