Positive sentiments persist as Equities market appreciates by 0.1 percent

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The Nigerian equities market sustains previous day gains, as market indicators hinged higher, on Wednesday, as the All-Share Index (ASI) ended the day trade with 0.1 per cent gain to settle at 25,171.32 basis points.

Similarly, market capitalisation closed at N13.13 trillion, having appreciated by N18.2 billion, thus the Month-to-Date gain increased to +1.9 per cent while the Year-to-Date loss moderated to -6.2 per cent.

Market sentiment, as measured by the market breadth, was however flat as 13 tickers gained relative to 13 losers. Studio Press led the gainers’ chart with ten per cent increase in its stock value, trailed by International Breweries, Jaiz Bank, Japaul and Mutual Benefits while CAP led the decliners table, having lost ten per cent in its value, followed by Royal Exchange, PZ, University Prints Limited and GlaxoSmithKline.

The sectoral performance was broadly mixed with gains recorded across the Banking, Insurance and Consumer Goods indices, while the Industrial Goods index declined. The Oil & Gas index traded flat.

Equities market activity dropped further on yet to improve sentiment. The volume of trades recorded 172 million units from 161million units traded in the previous session amounting to 35.37 per cent decline.

Value followed suit to record 39.28 per cent decline at N1.49 billion recorded at the close of trading today as against N2.46 billion recorded on Tuesday. Zenith Bank, Access Bank, Transnational Corporation, United Bank for Africa and FBN Holdings made up the top five performers in terms of volume of units traded while Zenith Bank, Guaranty Trust Bank, Access Bank, CAP and United Bank for Africa made up the top five performers in terms of value traded.

From Tribuneonlineng.com

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