MTN Nigeria, Ecobank, Dangote tumble, Bears take a grip on Nigerian Stocks

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Nigerian Stock market ended bearish today as the All Share Index declined by 1.53% to close at 34,242.83 from 34,774.08 points. Market capitalization similarly declined by 1.53% to settle at N17.892 trillion.

A total volume of 9.36 billion units of shares, valued at N12.02 billion exchanged hands in 8,712deals. UACN-PROP was the most traded shares by volume and value at 8.51 billion units and N5.96billion respectively.

  • The market breadth index was negative with 30 losers against 17 gainers. CADBURY (-9.85%) led the laggards today, while BOC GAS (+9.96%) was the top gainer.
  • Across sectors, four of the indexes under our coverage closed south. The Industrial and Consumer Goods sectors recorded the largest decline depreciating by -3.33% and -3.21%.
  • Likewise, the Oil & Gas and Insurance sectors trailed by -0.87% and -0.49% respectively. The Banking index closed as the lone gainer advancing by +0.75%.

Top Gainers

  1. BOCGAS up 9.96% to close at N5.85
  2. GLAXOSMITH up 9.56% to close at N7.45
  3. CONOIL up 9.45% to close at N20.85
  4. DANGSUGAR up 5.00% to close at N21
  5. GUARANTY up 2.78% to close at N37

Top Losers

  1. CADBURY down 9.85% to close at N9.15.
  2. NB down 6.90% to close at N54.
  3. DANGCEM down 6.45% to close at N187.1.
  4. INTBREW down 6.57% to close at N6.54.
  5. NESTLE down 3.45% to close at N1400.



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Nigerian bourse at Tuesday’s trading session was negatively impacted by losses recorded in large and medium capitalized stocks, amongst which are Dangote Cement, Nestle, Nigerian Breweries, Cadbury.

Nairametrics envisages cautious buying amid renewed profit-making seen across the market spectrum.

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