Equities Market Opens Positive …NSE ASI Up 74bps

The Nigerian Equities Market opened the week on a positive note as the All Share Index appreciated 0.7 per cent to close at 35,190.23. Market Capitalization also grew by N88.6 billion and closed at N11.9 trillion. 
Today’s positive close was majorly driven by appreciation in Nigerian Breweries  (+3.8 per cent), GTBank (+2.3 per cent) and Zenith Bank (+1.6 per cent). Market Activity as measured by volume and value declined by 78.8 per cent and 42.6 per cent accordingly after 344.7million units of stocks worth N4.7 trillion were traded.
All sector indices within the market closed north. The Banking Sector index led the gainers rising 1.9 per cent due to price appreciation in GTBank (+2.3 per cent) and Zenith Bank  (+1.6 per cent). The Industrial Goods sector index also gained 1.7 per cent due to gains in WAPCO (+3.3 per cent). Consumer Goods index (+0.6 per cent), Insurance index (+0.6 per cent) and the Oil and gas index (+0.2 per cent) followed in that order.
Market Breadth (advancers/decliners ratio) closed positive at 1.9x, with 33 advancers against 17 decliners. At the close of trading today, the best performers’ list was led by Wema Bank (+5.3 per cent), Betaglass (+5.0 per cent) and Fidelity Bank  (+5.0 per cent) while CCNN (-5.1 per cent), Nestle (-5.0 per cent) and Berger (-5.0 per cent) topped worst performers’ list. We envisage further bullish outing for the rest of the week as more risk averse investors return to the market on the back of stability in the political terrain continues to strengthen.

Leave a Reply

Your email address will not be published. Required fields are marked *