Nigerian stock market

Market breadth closes at 0.28x

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Treasury Bills, May blues, stocks, market, Daily Market Summary: May blues continue as stocks declined yet again
Stock exchange
  • The bourse resumed on a sombre note as the NSEASI-0.75% remained in negative territories, closing at 39,028.51 points.
  • A total of 222.32 million (-24.89%) shares worth NGN1.64 billion (-44.30%), were exchanged in 4,461 (-9.16%) deals. 
  • HMARKINS+6.67%closed as the best performing stock while FCMB-9.09% shed 20kobo to lead other laggards in the session.
  • Negative sentiment was observed on counters in all sectors represented on the exchange.
  • The NSE industrial goods sector index declined by 2.25%, underperforming other sectors.
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Why stocks are down

  • Despite the persistent bearish run, we note the decline in negative momentum, as depicted by the reduction in losses recorded on the NSEASI in the last three consecutive trading sessions (May 24th till date).
stock, exchange, May blues, market
Stock

Industrial goods sector:DANGCEM gains 41bps

The sector recorded the greatest selling pressure as its index pared the most by 2.25% (NSEIND).

This was largely due to profit taking activities on WAPCO-4.94%,following the 0.62% gain recorded in the previous week.

T-bills Trade Bullish to Close the Week as CBN Stalls on OMO Auction(Opens in a new browser tab)

The 0.41% uptick recorded on DANGCEM was insufficient to place the sector in the green.

Other counters traded sideways, placing the YtD return on the NSEIND at 1.88%.


Contact Morgan Capital for more information.

Business day

Email: info@morgancapitalgroup.com

www.morgancapitalgroup.com

@Nairametrics

Deal book 300 x 250

Nairametrics

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