The stock market on Tuesday extended its bullish-run to the fifth trading session buoyed by buying interests in BUACEMENT (+2.83%), FLOURMILL (+1.08%) and JBERGER(+3.0%) which pushed the All-Share Index +0.25% higher to 25,291.73 points. ]
Consequently, Week-to-Date returns rose to +0.28%, while on a Month-to-Date, Quarter-to-Date, and Year-to-Date basis equities have returned +2.42%, +3.32% and -5.78% respectively.
Investors gained N32.67 billion after staking N1.168 billion on 251.3 million units of shares in 3,713 deals. Daily volume traded saw an uptick of 0.06% and market capitalization rose to N13.19 trillion.
The breadth of the market weakened to 0.75x from 1.0x at the start of the week on the back of 15 advancers and 20 laggards in the day?s trade.
Top active stocks were TRANSCORP (94.88 million units), UBA (33.17 million units) and WEMABANK (14.55 million units). By value, the top stocks were UBA (N216.45 million), ZENITHBANK (N176.45 million) and GUARANTY (N120.45 million).
Top gainers in the day were NEM (+9.63%), WAPIC (+6.25%), JAPAULOIL (+4.76%), JAIZBANK (+3.51%) and JBERGER (3.03%). On the other hand, the biggest decliners were BETAGLAS (-9.99%), MAYBAKER (-9.90%), ARBICO (-9.52%), CILEASING (-9.09%) and CUTIX (-7.89%).
2 out of 5 sector indices under our coverage closed in the green. The Insurance Index gained +1.62% and Industrial Goods advanced by +1.10%.
Banking Index, Consumer Goods Index and Oil and Gas Index declined -0.22%, -0.07% and -0,04% respectively.
The five-day gaining streak so far is the longest since a six-day bull-run between July 29 and August 7. Therefore, we expect to see investors take profit in subsequent trading sessions.
PFI Capital Limited