Nigerian Stocks: The bulls and bears of Monday June 5th 2017
Consolidating on the massive gains recorded in the previous trading session, the NSE All-Share Index advanced by 3.85% to 32578.38 pts at the end of the day’s trading activities.
The YtD return of the index subsequently settled at 21.22%. However, volume of shares traded likewise market turnover declined by 9.60% and 7.03% accordingly. There were forty-five (45) gainers in the day while thirteen (13) stocks shed in value, settling the market breadth for the day at 3.46x.
- MOBIL (+10.25%) was the top outperformer in the market, trailed by CONOIL (+10.23%), FLOURMILL (+10.19%), FBNH (+10.12%) and CUSTODYINS (+9.72%),
- The day’s losers were led by UNIONDICON (-4.95%), CILEASING (-4.55%), JAIZBANK (-4.40%), CUTIX (-4.27%) and THOMASWY (-3.70%) respectively.
- The NSE sector indices all recorded advancements (NSEIND, +6.49%; NSEBNK10, +1.75%; NSEFBT10, +0.22%; NSEOILG5, +3.28%; NSEINS10, +1.14%) in the day.
- The Nigerian equities market was characterized by stronger bullish activities as reflected by the price gains witnessed on certain tickers upon which profit-taking was expected. We expect the positive momentum to continue, however, we do not rule out the likelihood of speculators cashing in on the significant gains recorded thus far.