There was a slight resurgence in the Nigerian equities market yesterday, as the NSEASI advanced by 0.05%, pegging the YtD (year-to-date) return at –5.26%. Similarly, volume of shares traded advanced by 67.9%, while value of transactions declined by 10.32%. There were eleven (11) gainers, and fifteen (15) losers, resulting in a market breadth of 0.73x.
NEIMETH emerged as the highest gainer, appreciating by 4.92% to close the day at NGN0.64. The ticker was closely followed by AIRSERVICE (+4.60%), VITAFOAM (+4.52%), CAVERTON (+3.57%) and DIAMONDBNK (+3.49%). On the other hand, WAPCO (-5.90%) led the losers, closing the day at NGN41.78. Other top losers were AGLEVENT (-4.88%), UAC-PROP (-4.21%) UCAP (-2.70%), and FBNH (-2.40%).
The NSEBNK10 (+0.67%), NSEINS10 (+0.16) and NSEOILG5 (+0.04) indices all appreciated, while the NSEIND and NSEFBT10 indices both declined by 2.28% and 0.33% respectively.
Market watchers attribute the performance of the market to the appreciation of DANGCEM, as the NSEASI stood at -0.24% ex-DANGCEM. They do not expect a repeat of yesterday’s performance in the remaining trading days of the week. Hence, they predict that the market may close negative week-on-week.