L – R: Mr. Abimbola Ogunbanjo, President of the National Council, The Nigerian Stock Exchange (NSE); Ik Alile (son), Dr. (Mrs.) Patience Alile (wife) and Mr. Oscar Onyema, Chief Executive Officer, NSE, during the presentation of a replica of the Closing Gong to the Alile family at the ceremony held to honour and bid the erstwhile Director-General of the NSE, Apostle Hayford Alile, farewell at the Exchange on Thursday in Lagos.

The equities market yesterday returned to positive territory in today’s session, as the ASI rose by 0.37% to 32,228.50 points, amidst interest in banking stocks.
As a result, the Month-to-Date and Year-to-Date losses decreased to 0.73% and 15.73%, respectively.
The Banking index was top gainer among major sectoral indices, following demand for FBNH (+2.03%), Zenith Bank (+1.25%) and Guaranty (+1.21%) shares. The Insurance (+0.70%) and Consumer Goods (+0.39%) indices also closed positive, owing to investor interest in NEM (+4.84%) and Dangote Flour (+3.33%) stocks respectively.
On the flip side, sell pressure in CCNN (-9.88%) and Mobil (-7.19%) stocks led to negative returns in the Industrial Goods (-0.31%) and Oil & Gas (-0.85%) indices.
Market breadth was positive with 19 gainers and 15 losers, led by Unity Bank (+9.23%) and CCNN (-9.88%) stocks respectively. Total volume and value of shares traded dropped by 55.54% and 71.56% to 200.13 million units and NGN2.67 billion, respectively, exchanged in 2,639 deals.
Market watchers remain conservative in their short to medium term outlook for equities, amidst political concerns ahead of the 2019 elections, and the absence of a positive trigger.
However, stable macroeconomic fundamentals remain supportive of recovery in the long term.

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