Domestic Market Index Rebounds by 0.02% amid Renewed Bargain Hunting Activity

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The local bourse advanced marginally today by 2bps, to close at 28,344.04 points, with the year-to-date return at +5.60% and market capitalization at N14.81 trillion.

The activity was tepid; however, we took note of some trades as PFAs offset holdings of offshore investors in GUARANTY NL (-2.48% to N29.55). Within the tier-1 banking spectrum, we continue to see speculative profit-taking in UBA NL (-2.94% to N6.60) as FBNH NL and ZENITHBA NL gained 81bps and 25bps, to N6.25 and N20.00, respectively mostly on retail sized prints passing through.

Interest in ACCESS bank was relatively muted on matching bids which left its daily share price unchanged at N7.90. On the flip side, we saw STANBIC NL soar on the back of foreign demand, the ticker gained 3.53% to N44.00 as NB NL also printed on the gainer’s chart, closed +1.03% higher at N49.10. For the cement tickers, DANGCEM NL, BUACEMENT NL and WAPCO NL were fairly unchanged, hovering around reference price.

Volume and value traded were 45.23% and 32.34% higher to 535.98 million units and N6.69 billion, respectively. The most traded stocks by volume were REGALINS NL (245.79 million units), GUARANTY NL (100.31 million units) and UBA NL (32.95 million units) while GUARANTY NL (N3.00 billion), NEWGOLD NL (N1.67 billion) and STANBIC NL (N526.80 million) topped the value chart.

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The sectorial performance was mixed today as Banking and Industrial sectors lost 121bps and 0bps while Consumer goods, Oil & Gas and Insurance sub-indices gained 88bps, 11bps, and 18bps respectively.

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Market sentiment was positive as market breadth came in at 1.2x as there were 18 advancers and 15 decliners.

Comercio Partner

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Domestic Market Index Rebounds by 0.02% amid Renewed Bargain Hunting Activity - Brand SpurDomestic Market Index Rebounds by 0.02% amid Renewed Bargain Hunting Activity - Brand Spur

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Domestic Market Index Rebounds by 0.02% amid Renewed Bargain Hunting Activity - Brand SpurDomestic Market Index Rebounds by 0.02% amid Renewed Bargain Hunting Activity - Brand Spur

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