Market breadth advances to 0.96x

Daily Market Summary: 4 NSE sector indices closing underwater(Opens in a new browser tab)

All Share Index, Bellwether, stocks 
Stock Exchange building

  • The NSEASI-1.08% closed in the red, despite a fleeting stay in positive territories today.
  • Year to date return on the bourse slided to 0.95%.
  • A total of 342.05 million (+53.86%) shares worth NGN4.74 billion (+188.46%), were exchanged in 5,057 (+13.36%) deals.
  • HMARKINS+6.25% closed as the best performing counter yet again, while profit-takers saw IKEJAHOTEL -7.04% close as top laggard in the session.
  • An analysis of all NSE sector indices reveals an improvement in market sentiment, barring the banking, consumer, and industrial goods space which saw gains stifled by the price shedding on heavyweights.
  • Slow down in Agric GDP Growth rate suggests Buhari’s Agro-policy is failing (Opens in a new browser tab)

Why stocks are down

Bellwether, stocks, stock, bearish

Insurance sector:NSEINS10 index gains 99bps

The bulls regained their charge on a number of counters such as; HMARKINS+6.25%, MANSARD+4.17% and LINKASSURE+3.80%.

Angola’s oil money lures Sahara Group(Opens in a new browser tab)

The sector recorded the greatest buying pressure, with its index advancing by 0.99%.

Guinness Nigeria, Africa Prudential make worst stock list as NSE trading ends in positive territory(Opens in a new browser tab)

Business day

The Year to date return on the NSEINS10 index therefore advanced to 1.61%.

Contact Morgan Capital for more information.


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