The Nigerian equities market started the week on a positive note, advancing by 0.32% to peg the year-to-date return at -2.50%. The volume and value of transactions declined by 6.49% and 51.85% respectively. There were eighteen (18) gainers against twenty-three (23) decliners, indicating a market breadth of 0.78x.

Caverton led the gainers’ chart, appreciating by 8.96% to close at NGN0.73. The ticker was followed by UBN (5.00%), WAPCO (+3.81%), AGLEVENT (+3.33%) and TRANSEXPR (+2.94%). Conversely, GUINNESS (-9.75%) pared the most, to close at NGN79.83. DIAMONDBNK (-5.51%), CCNN (-5.00%), AFRIPRUD (-4.95%), and VITAFOAM (-4.68%) also featured on the laggards list.

Volume analysis showed significant activities on banking stocks (4 of 5 most traded stocks in the day), particularly GUARANTY and ZENITHBANK, which were the most traded stocks for the day, with 27.8mn units exchanged per stock.

Market performance, as measured by NSE-Sector indices, showed that three (3) sectors advanced at the end of today’s trading session, while two (2) declined. The NSEBNK10, NSEIND and NSEFBT10 indices advanced by 1.30%, 1.27% and 0.30% respectively, while the NSEINS10 and NSEOILG5 indices pared by 0.16% and 0.51% respectively.

Analysts attribute yesterday’s gains to bargain hunting activities on some heavyweight stocks.  TheyS expect market sentiments to be shaped by financial scorecards (Q3:2016) of companies which are expected to begin to trickle in shortly.


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