Market breadth closes at 2.75x
- The NSEASI+1.53% maintained its gaining streak for the third consecutive session.
- Positive sentiments on 44 stocks restored the Year to date (YtD) return on the bourse to the positive region.
- A total of 393.12 million (+15.73%) shares worth NGN6.67 billion (+11.91%), were exchanged in 5,285 (+19.14%) deals.
- Total market capitalisation closed at NGN13.92 trillion.
- At the close of trades, FIDELITYBK+9.91% was the top gainer at NGN2.33 while GUINEAINS-5.00% was the top loser.
- The NSEOILG5+0.63% index which was the sole loser in the previous session, joined other NSE indices in the green zone.
Why stocks are up
- Cautious optimism was the order of the day as investors remained eager to take advantage of the relatively cheaper prices of most counters in the bourse.
- We expect this trend to be maintained in the week.
Industrial goods sector: WAPCO gains 9.35%
The sector recorded the highest gains of all NSE sector indices.
The index’s positive performance was bolstered by the advancement on WAPCO+9.35% and DANGCEM+0.88%, as most stocks closed flat.
The WtD, MtD and YtD return on the NSEIND index settled at +6.30%, +2.29% and -0.62% respectively.
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