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Home Business Markets

#EndSARS: Curfew, widespread looting triggers losses for Nigerian stocks

5 years ago
in Markets
1 min read
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Nigerian Stock Exchange - norvanreports

Nigerian Stock Exchange - norvanreports

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The Nigerian bourse recorded its first trading loss this week amid the rising political crisis in some of the country’s major cities.

The All Share Index plunged by 0.75% to close at 28,449.49 points as against +0.03% appreciation recorded on Tuesday.

  • Its Year-to-Date (YTD) returns currently stands at +5.99% with investors’ losses standing at N113.07 billion.
  • Today’s trading session at the Nigerian bourse went positive as volume moved up by +9.84%, as against the +3.48% uptick recorded on Tuesday. UBA, ZENITH BANK, and GUARANTY were the most active to boost market turnover.
  • NNFM leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed negative as WAPIC led 4 Gainers as against 34 Losers topped by ARDOVA at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  • WAPIC down 10.00% to close at N0.44
  • PORTPAINT down 2.50% to close at N2.05
  • UAC-PROP down 1.23% to close at N0.82
  • NB down 0.97% to close at N52
  • ASOSAVINGS down 0.00% to close at N0.5

Top losers

  • ARDOVA up 6.30% to close at N11.9
  • GUINNESS up 5.88% to close at N16
  • WAPCO up 4.42% to close at N17.3
  • JBERGER up 3.17% to close at N16.8
  • MTN up 1.43% to close at N138

Unsurprisingly, the Nigerian bourse ended its mid-week trading session on a bearish note amid falling crude oil prices and disruption among major economic hubs in Nigeria, particularly Lagos.

Via: norvanreports
Tags: EndSARSNigerian Stock Exchange
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