Nigerian bourse on Wednesday closed bearish amid positive prevailing macros. The All Share Index plunged by 0.19% to close at 25,550.31 points as against a -0.03% drop recorded Tuesday.
•Nigerian Stock exchange market capitalization presently stands atN13.353 trillion. Its Year-to-Date (YTD) returns currently stands at -4.81%.
•Nigerian Stock Exchange trading turnover printed negative on Wednesday, as trading volume fell by 13.59% as against a -4.63% drop recorded on Tuesday trading session.
•FCMB, ACCESS, and UBA were the most active to boost market turnover.
•Market breadth closed negative as BERGER led 17 Gainers as against 19 Losers topped by NEM at the end of today’s session – an unimproved performance when compared with the previous outlook.
BERGER up 7.44% to close at N6.5UBN up 7.00% to close atN5.35NB up 2.31% to close at N42VITAFOAM up 1.75% to close at N5.8CAP up 0.59% to close at N17.1
NEM down 9.78% to close at N2.03CADBURY down 8.39% to close at N7.1INTBREW down 6.25% to close at N3WAPCO down 3.70% to close at N13ZENITHBANK down 1.16% to close at N17Outlook
In spite of Crude oil prices gaining more than 2% and Brent crude prices hitting pass $41/barrel, the All Share Index closed negative at Wednesday’s trading session.
•Significant selling pressures from Cadbury, International Breweries dampened traders’ morale in the relatively low liquid stock market.
•it is nvisage cautious buying as market indicators, point to low market liquidity in the coming days.