In the past week, the Nigerian stock market exhibited mixed performance, with notable gains and losses across various stocks. The NGX-All Share Index (ASI) dipped by 0.08%, closing at 99,222.33 points, reflecting a cautious market sentiment despite some promising movements within specific sectors.
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1. RT Briscoe (RTBRISCOE): Closed at ₦0.60, up from ₦0.48, marking a significant 25.0% increase.
2. Oando (OANDO): Rose by 23.7%, closing at ₦14.60 from ₦11.80.
3. Eterna (ETERNA): Increased by 22.4%, reaching ₦15.00 from ₦12.25.
4. Deap Capital (DEAPCAP): Up 20.0%, closing at ₦0.48 from ₦0.40.
5. Red Star Express (REDSTAREX): Recorded a 15.7% gain, closing at ₦3.90 from ₦3.37.
6. Ecobank Transnational Incorporated (ETI): Rose 12.0%, from ₦21.30 to ₦23.85.
7.Custodian Investment (CUSTODIAN): Increased by 10.5%, closing at ₦10.50 from ₦9.50.
8. Presco (PRESCO): Gained 10.0%, closing at ₦293.90 from ₦267.20.
9. International Breweries (INTBREW): Up 9.6%, maintaining a steady ₦4.00.
10. NEM Insurance (NEM): Closed at ₦8.70, up 8.7% from ₦8.00.
Top Losers:
1. Unity Bank (UNITYBNK): Dropped 21.6%, closing at ₦1.20 from ₦1.53.
2. Sovereign Trust Insurance (SOVRENINS): Declined by 13.6%, closing at ₦0.38 from ₦0.44.
3. Transnational Corporation (TRANSCORP): Fell by 11.2%, closing at ₦10.30 from ₦11.60.
4. SUNU Assurances (SUNUASSUR): Decreased by 10.9%, closing at ₦1.15 from ₦1.29.
5. Prestige Assurance (PRESTIGE): Down 10.7%, closing at ₦0.50 from ₦0.56.
6. May & Baker Nigeria (MAYBAKER): Fell by 10.0%, closing at ₦6.03 from ₦6.70.
7. Tranzact International (ETRANZACT): Dropped 9.8%, closing at ₦5.05 from ₦5.60.
8. Fidelity Bank (FIDELITYBK): Decreased by 9.8%, closing at ₦9.20 from ₦10.20.
9. UPDC Plc (UPDC): Fell by 9.7%, closing at ₦1.21 from ₦1.34.
10. International Energy Insurance (INTENEGINS): Down 9.5%, closing at ₦1.53 from ₦1.69.
The sectoral performance was mixed, with the NGX-Insurance index leading the gainers with a 0.84% increase due to gains in stocks like CUSTODIAN and NEM. The NGX-Consumer Goods index followed, rising by 0.33% driven by positive price movements in PRESCO and INTBREW. In contrast, the NGX-Banking and NGX-Oil & Gas indices saw declines of 0.62% and 0.18%, respectively.
Looking ahead, market analysts expect a mixed trend driven by profit-taking activities, the publication of third-quarter earnings forecasts, and portfolio rebalancing. Investors are advised to focus on stocks with strong fundamentals to navigate the current market volatility.
