The bulls today continued to dominate the Nigerian equities market as the benchmark index appreciated by 0.58% to 30,137.53 points, following interest across value stocks.

Against the foregoing, the Month-to-Date loss moderated to 4.11%.

All sectoral indices closed positive, with the Insurance (+3.50%) index leading the pack, followed by the Industrial (+3.11%), Consumer Goods (+0.22%), Banking (+0.34%), and Oil & Gas (+0.28%) indices.

The notable stocks include MANSARD (+8.33%), CCNN (+10.00%), Dangote Sugar (+3.93%), and STANBIC (+2.93%) respectively.

Market breadth was positive with 21 losers and 13 gainers, led by CCNN and Air Service (-9.49%) stocks respectively.

Meanwhile, total volume surged by 126.6% to 300.03 million units, valued at NGN3.25 billion, and exchanged in 3,760 deals.

Analysts’ views for the equities market remain cautious as political jitters ahead of the 2019 elections intensifies, and the absence of a positive market trigger. However, the posit that positive macroeconomic fundamentals remain supportive of recovery in the long term.

Leave a Reply