Sentiments in the equities market yesterday turned positive, as the ASI inched up by 0.44% to 32,545.06 points, following investor interest across value stocks.
Thus, the Month-to-Date and Year-to-Date losses moderated to -0.68% and -14.90%, respectively.
The Consumer Goods (+1.61%), Oil & Gas (+0.65%), and Insurance (+0.17%) indices posted gains, following demand in the shares of NB (+4.99%), Total (+8.20%), and Royalex (+10.00%), respectively.
On the flip side, sell pressure in WAPCO (-0.53%) and Zenith Bank (-0.83%) led to respective losses in the Industrial Goods (-0.73%) and Banking (-0.33%) indices.
Market breadth turned positive with 19 gainers and 18 losers, led by Jaiz Bank (+10.00%) and AG Leventis (-10.00%) shares respectively. Total volume of trades fell by 8.27% to 349.46 million units, valued at NGN3.67 billion (+57.3%), and exchanged in 3,128 deals.
Analysts’ outlook for equities in the short to medium term remain conservative, amidst brewing political concerns, and the absence of a one-off positive trigger.
However, stable macroeconomic fundamentals remain supportive of recovery in the long term.

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