The Entrepreneur Africa Magazine

CADBURY, GUINNESS plunge amid profit-taking at Nigeria’s stock market

With 50 losers to 14 gainers, sectoral indices closed mostly negative, as the NSE Insurance Index led the decliners with 6.70%.

Nigerian stocks ended the fourth trading session on a bearish note. The All Share Index Year-to-date return and market capitalization settled at 2.06%, and N21.49 trillion respectively.

• A total volume of 1.12 billion units of shares, valued at N6.39 billion exchanged hands in 7,404 deals. TRANSCORP (-9.38%) finished the most traded shares by volume, while GUARANTY (-0.15%) topped by value at N2.04 billion.

• With 50 losers to 14 gainers, sectoral indices closed mostly negative. The NSE Insurance Index led the decliners with 6.70%.

• The NSE Consumer Goods and Banking Indexes trailed distantly, down by -0.30% and -0.23% respectively.

• On the flip side, the NSE Industrial & Energy Indexes advanced marginally by +0.27% and +0.15% respectively.

Top gainers
1. NNFM up 10.00% to close at N9.68
2. CHAMPION up 9.88% to close at N1.78
3. NCR up 9.65% to close at N2.84
4. WAPCO up 5.47% to close at N27.95
5. ARDOVA up 3.54% to close at N20.45

Top losers
• MRS down 9.82% to close at N12.4
• CADBURY down 9.72% to close at N9.75
• FLOURMILL down 2.77% to close at N31.6
• GUINNESS down 2.37% to close at N18.5
• DANGCEM down 0.21% to close at N234

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Outlook
Nigerian stocks ended the last trading session of the week on a negative note amid soaring oil prices prevailing at the U.S trading session.

• The market struggled to close in the positive territory as profit-taking was seen on stocks across the board.

• It is expected that 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.

Matthias Sunday

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