Trading activities at the Nigerian Stock Exchange (NSE) started the week on a positive note, as its, All Share Index (ASI) rose by 0.21 per cent to close at 41,088.96 basis points.
The trajectory followed investors’ interests in Dangote Cement, Airtel Africa and Union Bank of Nigeria as their stocks advanced by 0.9 per cent, 0.4 per cent and 6.3 per cent respectively.
Accordingly, Month-to-Date and Year-to-Date return increased to two per cent as market capitalisation stands at N21.494 trillion, having added N45.50 billion.
Market breadth, however, continued to close in favour of the bears for the third straight trading session with 30 losers was recorded as against 19 gainers on Monday.
On the chart, Academy Press, May and Baker, Champion Breweries, MRS, Champion Breweries and University Press Limited led the gainers’ chart as the best-performing stocks, while C&I Leasing, Royal Exchange, Ardova Plc, Japaul Gold and Sovereign Insurance led the chart from the rear.
Sectorial indices portrayed the mixed sentiment amongst investors, with four indices closing in tandem with the all-share index, while three sectorial indices had a negative outing.
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Specifically, the Industrial Goods and Banking indices gained 0.5 per cent respectively, while losses were recorded in the Oil & Gas, Consumer Goods and Insurance indices by 0.8 per cent, 0.7 per and 0.6 per cent respectively.
Market activity as measured by both volume and value of trades contracted, as daily traded volumes recorded 333 million as against 591 million recorded in the previous trading session, amounting to a 43.68 per cent decline. The value of daily trades declined by 47.94 per cent to close at N2.649 billion as against N5.072 billion recorded in the previous trading session.
Transnational Corporations continued to dominate market activity in terms of volume. On Monday, it was, flanked by Mansard Insurance, Fidelity Bank, United Bank for Africa and Zenith Bank, whereas with regards to the value of trades, Zenith Bank, Airtel Africa, Guaranty Trust Bank, Dangote Cement and United Bank for Africa made up the top five performers.
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