Equities market opens week positive by 0.5 per cent

Equities trading on the Nigerian Stock Exchange (NSE) begins the month of July on a positive note as market indicators appreciated by 0.47 per cent.

Spurred by rebounds in BUA Cement and WAPCO stocks, the All-Share Index (ASI) advanced by 0.5 per cent to 24,479.22 points. Accordingly, Year-to-Date loss moderated to -8.4 per cent while market capitalisation was pegged at N12.874 trillion on Wednesday.

However, Market breadth closed in favour of the bear with 12 tickers closing in green against 23 losers on the performance chart.

All Sectoral Indices went north save for Financial Sector and Consumer goods Sector owing to a price drop in Guinness Nigeria, NASCON, Dangote Sugar, AIICO Insurance,  Zenith Bank and Guaranty Trust Bank.

On the gainers’ chart, Cadbury, Sterling Bank, CHAMS, Japaul Oil and BUA Cement took the lead. while on the decliners chart, Neimeth, Learn Africa, Wapic Insurance, Wema Bank and Jaiz Bank led the chart.

The total volume of trades decreased by 29.5 per cent to 198.01 million units, valued at N1.04 billion and exchanged in 3,772 deals. Wapic Insurance was the most traded stock by volume at 30.28 million units while Guaranty Trust Bank was the most traded stock by value at N158.00 million.

In order of appearance, Wapic Insurance, United Bank for Africa, Transnational Corporation, CHAMS and FCMB Holdings ended the trading day as top performers in terms of volume while Guaranty Trust Bank, United Bank for Africa, Zenith Bank, MTN Nigeria and Seplat made up the top five performers in terms of the value of units traded.

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