First Bank, Dangote stocks drop, investors lose N39.54 billion

The market breadth closed positive as CADBURY led 35 Gainers as against 21 Losers topped by FLOURMILL at the end of today’s session.

Nigerian Stocks ended the first trading session of the week on a bearish note.  The All Share Index plunged by 0.23% to close at 41,082.38 index points as against the 0.52% gain recorded on Friday.

By Olumide Adesina

• Its Year-to-Date (YTD) returns currently stands at +2.02%. Nigerian Stock Exchange market value stood at N21,49 billion.
• Investors lost N39.54 billion
• Nigerian bourse trading turnover on Monday however printed positive, as volume gained by 10.79% as against -17.64% downtick recorded at the last trading session.
• JAPAULOIL, UNIVINSURE, and TRANSCORP were the most active to boost market turnover.
• The market breadth closed positive as CADBURY led 35 Gainers as against 21 Losers topped by FLOURMILL at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

1. CADBURY up 10.00% to close at N10.45
2. BOCGAS up 9.98% to close at N13.77
3. LIVESTOCK up 9.95% to close at N2.32
4. GUARANTY up 1.82% to close at N33.65
5. WAPCO up 0.84% to close at N24

Top losers

1. FLOURMILL down 5.49% to close at N31
2. FBNH down 3.95% to close at N7.3
3. GUINNESS down2.63% to close atN18.5
4. NASCON down 1.71% to close at N17.25
5. DANGCEM down 1.01% to close at N234.6

Outlook

Nigerian Stocks ended the first trading session of the week on a negative note amid falling oil prices.

• Buying pressure from blue-chip stocks, particularly GTBank, WAPCO  could not help the Stock bulls in maintaining their run on the account of profit-taking notice in Dangote, First Bank, and Flour mills.
• Nairametrics expects you to seek the advice of a certified stockbroker or financial advisor in choosing stocks to buy, as some Nigerian stocks exhibit cyclic return.