Local equities market opens week flat

The domestic equities market opened the week with mixed sentiments, as gains from large capitalised stocks were unable to lift the market on Monday.

Trading on the Nigerian Stock Exchange (NSE) resumed the week flattish as the All Share Index (ASI) closed flat at 28,659.07 points.

However, the performance was uptick as the Exchange recorded 20 losers as against 17 gainers at the close of the trading session.

Thus, Month-to-Date and Year-to-Date gains were unchanged at 6.8 per cent.

Specifically, tickers such as Guinness Nigeria, Guaranty Trust Bank, EcoBank Transnational IncorporationI and Ardova advanced by 4.75 per cent, 1.98 per cent, 1.10 per cent and 5.83 per cent amid investors buying interest.

However, the performance was bullish across sub-sector gauges tracked as three out of five indices closed in green: the NSE Insurance, NSE Consumer Goods and NSE Oil/Gas indices rose by 1.09 per cent, 0.88 per cent and 0.54 per cent respectively.

On the flip side, the NSE Banking and NSE Industrial indices moderated by 0.34 per cent and 0.14 per cent respectively.

The total volume of trades decreased by 41.3 per cent to 287.30 million units, valued at N3.40 billion and exchanged in 5,132 deals. Zenith Bank was the most traded stock by volume and value at 43 million units and N905.35 million, respectively.

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Local equities market opens week flat

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