Investors Remain Resilient in the Equities Space…ASI Up By 1.59% WoW

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Investors remain resilient as the bull maintained a dominant position in the equities market last week. Despite a 17bps decline on Monday, equities market closed positive for the remaining 4 trading days of the week. Consequently, the All-Share Index (ASI) advanced by 159bps WoW to 31,016.17 as market capitalization gained N248.98bn to settle at N16.21tn. This pulls the year-to-date performance to a record +15.55%.

Market breadth, a measure of Investors’ sentiment declined from 11.3x to 1.67x as 40 stocks advanced while  24 stocks declined last week. LIVESTOCK (+30.86%), TRANSCORP (+19.72%) AND DANGSUGAR (+19.57%) were the top market gainers while INTBREW (-11.80%), MANSARD (-9.09%) and LINKASSURE (-8.89%) top the losers chart.

Investors Remain Resilient in the Equities Space...ASI Up By 1.59% WoW Brandspurng1

Market activity level was stable as the volume advanced while the value of transactions declined by 8.28% and 4.13% to 2.07bn units and N22.64bn respectively. Trading in the shares of  ACCESS, FBNH and ZENITH (measured by volume) accounted for 686.34 million shares worth N7.60 billion in 4,557 deals, contributing 33.21% and 33.57% to the total equity turnover volume and value respectively.

We expect mixed performance during the week with 3rd quarter earnings influencing investors’ decision.

Investors Remain Resilient in the Equities Space...ASI Up By 1.59% WoW
SOURCE: NSE, PFI Capital

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Investors Remain Resilient in the Equities Space...ASI Up By 1.59% WoW - Brand SpurInvestors Remain Resilient in the Equities Space...ASI Up By 1.59% WoW - Brand Spur

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