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Bulls & Bears’ battle end in a near-stalemate at the Nigerian stock market

Bulls & Bears’ battle end in a near-stalemate at the Nigerian stock market

The Nigerian stock market opened the week on a mild note, with the All-Share Index gaining +0.07% to close Monday’s session at 22,616.28 index points. The market capitalization also gained 0.07%, as it closed at N11.78 trillion.

Amid the mild gains recorded, activity level showed weak performance. Total volume and value traded depreciated by -48.91% and -40.35% to 108.12 million units and N1.33 billion, respectively.

Volume in the subsector was driven by activities in the shares of Guaranty Trust Bank and UBA (United Bank for Africa) Plc.

 

Across sectors, two of the five indices under our coverage gained. Price appreciation in GUARANTY, UBN (Union Bank of Nigeria), and ZENITH BANK moved the NSE (Nigerian Stock Exchange) Banking index up by 1.12%, while the Oil & Gas followed to gain 0.39%. Conversely, the Consumer Goods index led the laggards with -1.90% depreciation on NB (-10.00%) sell-offs, while the insurance and industrial indices trailed distantly at -0.25% and -0.04% respectively.

 

Top gainers

 

OANDO up 3.91% to close at N2.39; GUARANTY up 3.63% to close at N20; UBN up 3.05% to close at N6.75; ZENITH BANK up 1.07% to close at N14.2, and MTNN up 0.87% to close at N104.9.

Top losers

 

NB down 10.00% to close at N31.05, SKYAVN down 6.58% to close at N1.42; CILEASING down 1.96% to close at N5; ETI down 2.17% to close at N4.5; and GUINNESS down 1.85% to close at N18.55.

source:- https://nairametrics.com/2020/04/27/bulls-bears-battle-end-in-a-stalemate-at-the-nigerian-stock-market/