The Nigerian equities market closed in the green zone, after the NSE All-Share-Index advanced by 0.12%, bringing the Year-to-Date return to -4.85%. However, volume traded and market turnover declined by 14.69% and 30.08% respectively. There were eighteen (18) gainers as against sixteen (16) losers, indicating a market breadth of 1.13x.

Topping the gainers’ chart was ETERNA, which appreciated by 9.96% to close at NGN3.09. The counter was trailed by OKOMUOIL (+9.18%), REDSTAREX (+5.00%), UNITYBNK (+4.76%) and LEARNAFRCA (+4.29%). Conversely, UAC-PROP led the decliners’ chart, depreciating by 4.92% to close at NGN3.09. UBN (-4.87%), OANDO (-4.86%), INTBREW (-4.62%), and STERLNBANK (-4.44%) also featured on the laggards list.

CAVERTON (Revenue: -18.92% YoY; LBT: -142.40% YoY; LAT: -174.81% YoY), FTNCOCOA (Revenue: -2.51%; LBT: -70.81%; LAT: -70.81% YoY) and ETERNA (Revenue: +3.21%; PBT: +144.25%; PAT: +144.25% YoY) were a few of the companies that released their 9M2016 results between the close of market yesterday and today.

Market performance measured by the NSE sector indices showed that the banking, insurance and food & beverages sectors indices appreciated by 0.39%, 0.11% and 0.03% accordingly, while the oil & gas sector index declined by 0.46%.

Analysts attribute yesterday’s positive mood to investors’ reactions to the impressive results released after the close of trading Monday. It is expected that this mood will be short-lived in the absence of any positive news inflow.


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