ROYALEX and REGALINS upsurge amid dip in the NGX ASI

ROYALEX and REGALINS upsurge amid dip in the NGX ASI

Nigeria’s stock exchange market posted losses at the end of today’s trading session, still settling with the bears after a week-long plunge in the past week. The All-Share Index decreased slightly by -0.1% to close at 38,287.58 from 38,324.07.

  • Nigeria’s stock exchange market value currently stands at N19.98 Trillion. Its Year-to-Date (YTD) returns currently stands at -4.92%.
  • The market breadth closed negative at the start of the week as ROYALEX led 18 Gainers and ABCTRAN topped 17 Losers at the end of today’s session showing a bearish movement.

Top gainers

  1.  ROYALEX up +9.68% to close at N0.68
  2. REGALINS up +8.82% to close at N 0.37
  3. CHIPLC up +7.84% to close at N0.55
  4. SOVRENINS up +7.69% to close at N0.28
  5. JAPAULGOLD up +7.55% to close at N0.57

Top losers

  1. ABCTRANS down -9.76% to close at N0.37
  2.  ENAMELWA down -9.75% to close at N16.20
  3. UAC-POP down -8.43% to close at N0.76
  4. JAIZBANK down -6.45% to close at N0.58
  5. COURTVILLE down -4.76% to close at N0.20

Outlook

Nigeria’s stock market saw 5 bearish turns last week and began the week with a similar loss today. However, some experts remain optimistic about a recovery in the NGX ASI.

  • Market sentiments trend bearish although speculators predict a recovery as 17 losers are matched by 18 winners.
  • Nairametrics advises cautious buying in this era of growing uncertainties.
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