Investor sentiment was less negative today as the market breadth advanced from 0.75x to 0.83x. 15 stocks gained at price, led by JAPAUL GOLD (8.70%) and NAHCO (7.39%), while 18 stocks declined, led by GUINNESS (-9..91%) and TRIPPLEG (-9.72%).
Brent Crude prices climbed after OPEC forecasted an increase in this year’s demand recovery, predicting the market will be able to absorb the extra supply from the planned relaxation of oil production cuts over the next few months.
The S&P 500 hit a record high on Tuesday and the Nasdaq jumped as investors flocked to technology-related stocks after the United States’ pause in the rollout of Johnson & Johnson’s COVID-19 vaccine sparked fears of a delay in a broader economic rebound.
Market Snapshot
- JAPAUL GOLD Leads Market Gainers with 8.70% Gain
- US Stocks S&P 500, NASDAQ up as tech stocks rise after J&J vaccine paus
- Brent Crude Price Rises Following OPEC’s Boosted Forecast
- NAFEX Appreciates to ₦409.38/1$
