Nestle, Access Bank, Vitafoam plunge, investors lose N29 billion

Nigerian stock market ended its first trading session of the week on a bearish note.

The All-share index dropped d by 0.13% to close at 42,357.90 index points as against the 0.58% gain recorded last Friday. Nigerian Stock Exchange market capitalization currently stands at N22.16 trillion. Investors lost N28.65 billion.

• Its Year-to-Date (YTD) returns currently stands at +5.18%.
• Nigerian Stock markets trading turnover on Monday also ended negative as volume dipped by 12.40% as against the 20.63% surge recorded last Friday
• UBN, TRANSCORP, and UBA were the most active to boost market turnover.
• Market breadth closed positive as HONYFLOUR led 33 Gainers as against 28 Losers topped by ROYALEX at the end of today’s session – an improved performance when compared with the previous outlook.

Top gainers

1. MRS up 8.94% to close at N13.4
2. UACN up 7.19% to close at N8.95
3. INTBREW up 6.67% to close at N6.4
4. DANGSUGAR up 2.12% to close at N21.7
5. SEPLAT up 1.02% to close at N495

Top Losers

1. JBERGER down 7.28% to close at N21
2. NESTLE down 3.65% to close at N1450
3. VITAFOAM down 3.48% to close at N9.7
4. FLOURMILL down 3.17% to close at N33.6
5. ACCESS down 1.61% to close at N9.15

Outlook

• Nigerian bourse at Monday’s trading session was negatively impacted by losses recorded in large and medium capitalized stocks, amongst which are Access Bank, Nestle, Flour mills, Vitafoam.
• Cautious buying amid renewed profit-making seen across the market spectrum is envisaged.