The equities market closed the day in the negative region, clawing back most of the gains of the previous day’s trading (+0.12%), after the NSEASI pared by 0.11% to bring the Year-to-Date return to -4.95%. The volumes traded advanced by 8.05%, while the market turnover declined by 4.07%. Market breadth settled at 1.19x, indicating nineteen (19) gainers against sixteen (16) losers.
CHAMPION emerged as the highest gainer for the day, after appreciating by 7.32% to close at NGN2.64. The counter was trailed by TRANSCORP (+6.90%), AIRSERVICE (+5.00%), MRS (+4.98%) and UBN (+4.88%). Conversely, ETI (-4.95%), OANDO (-4.89%), UAC-PROP (-4.85%), PORTPAINT (-4.83%), and FIDSON (-4.72%) were featured on the losers’ chart.
The NSE-sector indices showed that all sectors, save for Industrial goods, declined at the end of today’s trading session. The NSEOILG5, NSEBNK10 and NSEFBT10 indices declined by 1.12%, 0.59% and 0.21% respectively, while NSEIND advanced by 1.73%.
With earnings season now over, market watchers anticipate that market returns will continue to be pressured by generally negative sentiments, which have characterized the year so far. Given this expectation, they advise investors to trade with caution, while favouring investments in fundamentally justified companies which are expected to record strong FY16 numbers.