The Nigerian equities market closed on a positive note today as the benchmark index increased by 0.85%, to 29,746.24 points, driven by gains in bellwether banking and consumer goods stocks.
Thus, the Month-to-Date and the Year-to-Date losses moderated to -4.17% and -5.36% respectively.
On sectoral performance, most sectoral indices such as Banking (+1.66%), Consumer goods (+1.56%), Insurance (+0.65%), and Industrial (+0.01%) closed positive, while the Oil & Gas index (-0.13%) closed in red.
Notable stocks include Guaranty (+1.42%), Nestle (+3.31%), Custodian (+2.42%) Berger (+2.21%) and OANDO (-1.03%).
Market breadth was positive, with 21 gainers and 10 losers, led by CHAMS (+10.00%) and John Holt (-9.62%) shares, respectively.
Total volume of trades increased by 43.61% to 321.36 million units, valued at NGN4.66 billion, and exchanged in 2,979 deals.
In the absence of a positive catalyst, market watchers guide investors to trade cautiously in the short term, adding however that stable macroeconomic fundamentals and compelling valuation remain supportive of recovery in the mid-to-long term.


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