Local equities market records 0.52% gain amidst positive sentiments

EQUITIES trading on the Nigerian Stock Exchange (NSE) received boost last week as it recorded gains though the week suffered slight dip on Monday.

The All Share Index (ASI) ended the trading week on a bullish note; gaining 0.52 per cent week on week (WoW).

The NSEASI commenced the trading week on a negative note with a loss of 0.60 per cent. The bourse reversed its stance till the end of the trading week with 0.18 er cent, 0.14 per cent, 0.36 per cent and 0.44 per cent respectively, enough to bring the index to a positive close.

One week after slipping into the N12 trillion mark, the market capitalisation has again returned to the N13 trillion psychological point at the close of trading activity on Friday.

The gains over the week was augmented by the market breadth as gainers overwhelmed the decliners during the cause of the week as market breadth recorded 95 counters week on week in the gainers’ chart against 67decliners.

A total of 1.42 billion shares valued at 17.25 billion naira in 20,303 deals were traded this week as compared to a total 2.08 billion shares valued at 33 billion naira in 21,849 deals last week.

The All Share Index was retrenched only by the Banking and Industrial Sector leaving all other sectoral indices on a positive stance and Alternative Securities Market flat.

Even though the market maintains waves between the north and south poles, some signs of improvement are evident from the improved market performance during the week’s trading sessions.

It will be notable to point out that most stocks are beginning to rally, it will be advisable to accumulate in tranches fundamentally justifiable liquid stocks, experts from APT Securities advised.