Bargain hunting activities returned to the market last week as reflected by the 0.23% uptick in the All-Share Index. Consequently, the YtD return eased to -15.80%. The week ended with twenty-six (26) gainers and thirty-nine (39) losers, pegging the market breadth at 0.67x.
Outperforming the market was UACN, with an 11.11% price increase, to close at NGN10.00. Other top performers were NPF MicroFinance Bank (+11.11%), PRESCO (+10.69%), NAHCO (+10.00%) and John Holt (+10.00%).
On the flip side, MBENEFIT was the worst performing stock, with a 23.33% price decline, to close at NGN0.23. Other losers in the week were Flourmill (-16.76%), WAPCO (-14.29%), CCNN (-11.60%), and OANDO (-10.58%).
The consumer goods and oil & gas sectors closed positive at the close of trading last week, while all other sectors closed in the negative territory, as reflected by their respective NSE sector indices.
Market watchers opine that positive investor sentiment returned to the market last week, following the significant decline registered in the previous week, adding that market performance was majorly driven by gains on some heavily weighted counters in the consumer goods and the oil and gas sectors.

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