Market breadth closes at 3.00x
- The bulls outran the bears for the second day running, hoisting the NSEASI by 246 basis points.
- Accordingly, the Year to date return on the bourse moved closer to the green at -1.02%, from its previous close of -3.38%.
- A total of 339.68 million (+8.03%) shares worth NGN5.96 billion (-15.20%), were exchanged in 4,436 (-26.26%) deals.
- Total market capitalisation closed at NGN13.71 trillion.
- Conoil Plc. CONOIL declared a final dividend of 200 kobo.
- This represents a dividend yield of 6.29% at its close price of NGN31.80 today.
- Despite the negative close on the NSE oil and gas index, OANDO+9.84% outperformed to close as the best performing counter in the session.
- Contrarily, HMARKINS -6.67% pared the most to settle at 28 kobo.
- Four out of five NSE sector indices finished in the green.
- The NSEIND+3.21%, NSEBNK10+3.19%, NSEFBT10+2.70%, and NSEINS10+0.24% indices recorded upticks, leaving the NSEOILG5-0.56% index as the sole loser.
Why stock are up
- Gains were buoyed by the reinvigoration of investor confidence, as portrayed by the hike in market breadth to 3.00x.
- In line with this, a total of forty-two stocks, including bellwethers; DANGCEM+2.24%, ZENITHBANK+4.04%, andNB+5.00% closed higher.
Oil and gas sector:GUARANTY tops the gainers’ list
The losses recorded by the sector in the session can be attributed to TOTAL-4.31%, which closed on a negative note.
Furthermore, trading activities on counters such as; SEPLAT, FO and CONOIL were lukewarm.
The significant price advancement on OANDO+9.84% was insufficient to bring the NSEOILG5-0.56% index to a positive close.
Contact Morgan Capital for more information.
Email: [email protected]