Positive Performance Returns in the Local Bourse after Eid-El-Maulud Break, NGX ASI Up 26bps
The Nigerian equities market closed positive at the end of today’s sessio Positive Performance Returns In The Local Bourse As Investors Gain ₦54.82 Billionn as the benchmark index improved by 0.26% to close at 41,249.71 points.
This was mainly due to buy pressures in bellwether stocks such as WAPCO (+0.61%) and ZENITHBANK (+0.40%). Consequently, the YTD return increased to 2.43% as market capitalisation increased by ₦54.82 billion to close at ₦21.53 trillion.
The sectoral performance marginally weakened as three of the five indices under coverage declined. The Oil & Gas index, the biggest loser, decreased by 0.39% on OANDO (-1.96%). The Consumer Goods and Banking indices followed suit, falling by 0.24% and 0.20% on CADBURY (-5.88%) and ACCESS (-1.04%) respectively. Conversely, the Insurance and Industrial indices, improved by 0.58% and 0.04% on WAPIC (+4.17%) and WAPCO (+0.61%)
Investor sentiment strengthened in today’s trading session, as market breadth increased to 1.17x from 0.90x. This was illustrated by the advance of 21 stocks, led by NGXGROUP (+10.00%) and GLAXOSMITH (+6.87%) and the decline of 18 stocks, led by PRESTIGE (-8.51%) and CHIPLC (-8.33%).
Activity level strengthened as total volume and value increased by 47.47% and 25.16% as investors exchanged about 499.51 million units of shares worth over N5.08 billion.