- The equities market started the week on a positive note as the NSEASI advanced by 3.02 % to drive the Year-to-Date return to –14.35%. Volume traded advanced by 0.37% while value of transaction decreased by 0.19%. Market breadth strongly favored (5.00x) advancers as 50 stocks appreciated against 10 decliners.
- PZ led the outperformers at the end of the day’s session as the stock’s market value appreciated by 10.22%% to close at NGN24.15. Other top gainers were OKOMUOIL (+ 10.20%), NAHCO (+10.12%), NASCON (+ 10.07%) and ACCESS (+ 10.06%). On the flip side, CAVERTON led the underperformers declining the most by 4.97% to close at NGN3.25. Other counters that featured on the losers’ chart were ETRANZACT (-4.80%), CWG (-4.75%), RTBRISCOE (-3.77%) and JBERGER (-2.33%) in that order.
- The performance of the sector, as measured by the NSE sector indices, also aligned with the mood in the market as all sector indices traded north with the NSEBNK10 and NSEFBT10 gaining the most by 4.69% and 3.58% respectively.
- Meristem believes the resurgence witnessed in the stock market in the last three trading days was largely driven by bargain hunting activities by investors on the back of attractive stock
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