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Business News of Thursday, 1 April 2021

Source: Naira Metrics

Nigerian stock market loses N100 billion in a single day

The Nigerian Stock Exchange market made another bearish end on Thursday, posting a loss at the end of the trading session. The All-Share Index decreased by -0.33% to close at 38,916.74 from the 39,045.13 index points which gives support to the loss recorded on Wednesday.

The Nigerian Stock Exchange market value currently stands at N20.45 trillion from N20.55 trillion. Its Year-to-Date (YTD) returns currently stand at -3.04% making a loss of N100 billion.The market breadth closed negative for the third time this week as UACN led 28 Gainers, and FTNCOCOA topped the 12 Losers chart, showing a consolidation as movement is uncertain.Top gainers

UACN up 10.0% to close at N9.90ROYALEX up 10.0% to close at N33JAPAULGOLD up 9.76% to close at N0.45CUTIX up 9.31% to close at N2.23LINKASSURE up 9.09% to close at N0.72Top losers

FTNCOCOA down 8.70% to close at N0.42NEM down 7.39% to close at N2.13UNITYBNK down 6.67% to close at N0.70REGALINS down 3.33% to close at N0.29LIVESTOCK down 2.60% to close at N1.87Outlook

Nigerian stocks started the third trading session of the week bearish. Trading turnover on Wednesday’s trading session was boosted by UACN, ROYALEX and JAPAULGOLD.

Market sentiments trend towards consolidation as 12 losers outweigh 28 winners.Nairametrics however, advises cautious buying in this era of growing uncertainties.

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