SOVRENIN and ABCTRAN lead the plunge as NGX ASI drops

SOVRENIN and ABCTRAN lead the plunge as NGX ASI drops

Nigeria’s stock exchange market posted another loss at the end of the trading session yesterday. The All-Share Index decreased slightly by -0.49% to close at 38,044.58 from 38,256.76.

  • The stock exchange market value currently stands at N19.84 trillion. Its Year-to-Date (YTD) returns currently stands at -5.53%.
  • The market breadth closed negative as MBENEFIT led 16 Gainers, while 22 Losers were topped by SOVRENIN, showing a movement trending to the bears.

Top gainers

  1. MBENEFIT up +7.34% to close at N0.44
  2. CUTIX up +7.14% to close at N25
  3. REGALINS up +7.14% to close at N0.45
  4. CHIPLC up +6.35% to close at N0.67
  5. CHAMPION up +6.00% to close at N2.12

Top losers

  1. SOVRENIN down -10.00% to close at N0.27
  2. ABCTRAN down -8.11% to close at N0.34
  3. ACADEMY down -7.69% to close at N0.36
  4. ROYALEX down -6.33% to close at N0.74
  5. WAPIC down -5.66% to close at N0.50

Outlook.

  • Market sentiments trend bearish as 22 losers outweighed 16 gainers.
  • Nairametrics advises cautious buying in this era of growing uncertainties
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