According to CNBC, Trump said he expects Saudi Arabia and Russia to announce 10 million barrel cut.
It is estimated that possible cuts to oil production will stabilize the crumbling oil market. Until then, prices will continue to tank and the seas will remain burdened with cargoes of unsold crude oil from Nigeria and other oil-producing nations.
COVID-19: Confirmed global cases heading to 1 million, Spain death toll passes 10,000, US approaching 6,000 deaths, Italy reports 760 new deaths; taking total to 13,915, but a slower growth rate in infections.
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Dangote Cement led the gainers’ chart to pull the All Share-Index (ASI) up by 0.10% and abate the year-to-date loss of the market to -21.31%. See the image below for a complete snapshot of market performance.
Market Breadth: The breadth of the market was weak today as the bears overwhelmed the bulls with 19 declining stocks as against 7 rising stocks. The gain in ASI was heavily supported by the gain of DANGCEM. See the list of top gainers or losers below:
Market Turnover: Turnover appreciated by 65.38% in volume and 62.07% in value. See top 10 traded stocks below:
Have a great evening.