The season’s spirit continues to rub off on investor sentiment as the equities market maintains a positive run. At the close of trade today, the ASI edged up 0.57%, placing the year-to-date return to -7.27%.
Activity levels today though declined, market breadth as well, closing at 1.57x. Results today showed volume traded declined 2.64% while market turnover slid 64.87% on the back on twenty-two advancers against fourteen decliners.
As for the daily standing of top gainers nudging the index upwards, HONYFLOUR appreciated 8.62% to close at NGN1.26. ETI (+4.99%) trailed, followed by NEM (+4.94%), UCAP (+4.91%) and UBA (+4.85%).
Analysis by sector (NSE sector indices) showed the Banking index (+3.12%) posting the only positive return. On the other hand, Oil & gas (-1.05%), Insurance (-0.28%) and Food & Beverages (-0.187%) sectors posted declines. The Industrial goods sector traded flat.
As for the band of decliners, MOBIL pared 5.00%, settling at NGN284.05. FIDSON (-4.72%), OANDO (-4.67%), TOTAL (-4.40%) and CAVERTON (-4.26%) followed.
Banking stocks remained subjects to bargain hunting spurring positive sentiments recorded today. A positive week-on-week close is expected.
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