For the first time this week, the equities market closed positive, advancing by 0.18% to settle the YtD return at -8.45%. Contrarily, the volume and value of transactions declined by 5.80% and 4.32% each in comparison to yesterday’s trading. Sixteen (16) stocks appreciated in value while twenty (20) pared at the end of today’s trading activities indicating a market breadth of 0.80x.

The highest gaining counters for the day include: Airservice (+4.69%), Guaranty (+4.65%), Vitafoam (+4.60%), Fidson (+4.17%) and ZenithBank (+3.45%).  On the flip side, Cadbury (-9.65%), FO (-8.50%), Total (-8.19%), NAHCO (-4.94%) and Caverton (-4.55%) pared the most.

Market performance, as measured by the NSE indices shows that all sectors declined save NSEBNK10 which advanced by +3.08%. While NSEOILG5 (-3.71%), NSEFBT10 (-0.47%), NSEINS10 (-0.24%) and NSEIND (-0.003%) declined in that respective order.

As expected, the market witnessed pockets of bargain-hunting activities on certain large-cap tickers which in our opinion, led to the marginal gain recorded at the close of trades today.

Whilst market watchers do not expect a replica of the current market mood Friday, it is probable given the current low levels of some fundamentally justified stocks. They however envisage a negative WoW return.


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