Trade at the Nigerian Stock Exchange closed at a near flat as the All Share Index fell slightly by 0.01% to 24,277 index points thus implying a year to date date performance of -9.46%. Trade activities declined in value and volume by 19.76% and 49.05% to 186.64 million units and 2.393 billion respectively.
Fidelity Bank PLC emerged the highest traded stock in volume with a traded volume of 38,064,606 shares while GTBank merged the highest value traded stock with a trading value of N534,467,897.40. The Banking sector championed the top 5 traded stocks chart board as Zenith, Access and UBA all makes it to the top 5 traded stocks.
Market sentiment, as measured by market breadth, was negative as 15 stocks declined, relative to 10 advancers with CONOIL and ARBICO as top losers by 10.00% and 9.52% respectively, while STERLNBANK and PZ recorded largest price gains with 5.83% and 3.57% respectively. While the NSE 30 index improved slightly by 0.02% to 1,040.78 index points
Top 5 Losers
CONOIL tops the losers board with a 10% reduction to close at N18.9, others includes VITAFOAM down by 9.30% to close at N5.07, INTBREW down by 8.86% to close at N3.6, ARBICO down by 9.52% to close at N1.71, and DANGSUGAR down by 0.86% to close at N11.5
Top 5 Gainers
LAWUNION emerged the tops gainer in the NSE's top 5 gainers board with a 7% appreciation to close at N1.07, other gainers include PZ up by 3.57% to close at N4.35, ETI up by 3.26% to close at N4.75,GUARANTY up by 1.11% to close at N22.75 and ZENITHBANK up by 0.60% to close at N16.75.
Outlook
The Nigerian Stock Market closed at a near flat as buying pressure from top tier-1 banks (Access, UBA, Zenith and GT Bank) and Fidelity Bank cushioned the high sell-offs recorded in CONOIL, VITAFOAM, INTBREW, ARBICO and Dangote Sugar.
For further details about which shares to buy or sell please contact a licensed financial advisor.
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