Equities market sustains positive sentiments as ASI adds 0.1 per cent

The local stock market index resumed the week positive as the All-share Index advanced by 0.05 per cent to close at 39,319.75 points amid sustained positive investors sentiment.

The positive sentiments were buoyed by buying interests in Nigerian Breweries and WAPCO stocks as they appreciated by 1.6 per cent and 1.1 per cent respectively.

Consequently, the Month-to-Date gain increased to +0.7 per cent while the Year-to-Date loss moderated to -2.4 per cent.

As measured by market breadth, market sentiment was positive as 25 tickers gained relative to 16 losers.
Transnational Corporations and Linkage Assurance topped the gainer’s list with a respective ten per cent increase in their shares value, while Conoil and Ikeja Hotel recorded the most significant losses of the day.

However, performance across sub-sector gauges tracked was bearish as three out of the five indices tracked closed in the red zone; the NSE Banking, NSE Consumer Goods and the NSE Oil/Gas indices fell by 0.07 per cent, 0.01 per cent and 0.34 per cent respectively.

On the positive side, the NSE Insurance and the NSE Industrial indices rose by 2.22 per cent and 0.07 per cent respectively.

Meanwhile, trading activity was weak as total deals, volume and value of stocks traded declined by 19.38 per cent, 28.18 per cent and 60.93 per cent to 2,813 deals, 0.20 billion units and N1.1 billion respectively.

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Equities market sustains positive sentiments as ASI adds 0.1 per cent

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