#EndSARS protests dampen market liquidity at Nigerian Stock Market

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Nigerian bourse started its first trading session, unsurprisingly ended on a neutral note.

The All Share Index remained the same as the last trading session, closing at 28,658.31 basis points as against +1.11% appreciation recorded on Friday. Its Year-to-Date (YTD) returns currently stands at +6.77%.

  • That said, Nigerian bourse trading turnover plunged by -41.26% as against the +42.93% uptick recorded on Friday. ZENITHBANK, UBA, and FBNH were the most active to boost market turnover.
  • CHAMS led the list of active stocks that recorded an impressive volume spike at the end of today’s session.
  • Market breadth closed positive as INTBREW led 19 Gainers as against 18 Losers topped by ETERNA at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  1. INTBREW up 9.94% to close at N5.86
  2. CONOIL up 9.72% to close at N15.8
  3. ARDOVA up 5.83% to close at N12.7
  4. GUINNESS up 4.75% to close at N17.65
  5. GUARANTY up 1.48% to close at N30.8

Top losers

  1. ETERNA down 8.98% to close at N4.46
  2. MAYBAKER down 7.69% to close at N3
  3. CADBURY down 3.11% to close at N7.8
  4. ZENITHBANK down 2.55% to close at N21
  5. WAPCO down 1.86% to close at N18.5


Nigerian bourse ended neutral amid rising crude oil prices at the first trading session for the week.

  • Ongoing protests among a significant number of Nigerian youths in urban areas weighed on Monday’s trading activity, as economic activities were disrupted at Nigeria’s economic hub, thereby leading to a plunge in trading activities.
  • Furthermore, gains recorded by Conoil, GTbank got neutralized, as selling pressure observed in  Eterna, Cadbury, and Zenith bank intensified.
  • Nairametrics envisage cautious buying as many Nigerian millennials still remain on the street protesting for other reforms, and the rising caseloads of COVID-19 in Nigerian’s international markets would most likely affect its major export earning in the mid-term

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Member of the Chartered Financial Analyst Society. University of Pennsylvania: Power of Markets, IBM Enterprise Design Thinking. You can follow Olumide on twitter @tokunboadesina or email olumide.adesina@nairametrics.com.

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