Equities End The Week in Green
The equity market ended the last trading session of the week on a positive note as bargain hunting on bellwether stocks kept the benchmark index in the green.
As a result, the All Share Index appreciated by 0.2% to settle at 32,540.17 points even as the Market Breadth closed at 1.53x with 23 gainers and 15 losers. Furthermore, the volume and value of deals notched by 131.4% and 351.8% respectively.
A close look at sector performance, revealed that only three out of the sectors closed North. The decliners were led the NSE Insurance Index dipping by 2.6% following losses in Mansard (-9.7%) and Lasaco Assurance (-6.1%). Followed by the NSE Industrial Goods Index declining by 0.4% due to sell off in Dangote Cement (-2.4%).
On the other hand, the NSE Consumer Goods Index notched by 2.0% on the back of gains in Wapco PZ Cussons (8.0%) and Nigerian Breweries (4.5%). Following was the NSE Oil & Gas Index increasing by 1.2% following buy interest in Japaul Oil (4.4%) and Seplat (3.7%).
Furthermore, the NSE Banking Index appreciating by 0.9% due to price increase in Jaiz Bank (9.8%) and Unity Bank (9.1%).
Zenith Bank was the most actively traded stock in terms of volume with 82million units of shares worth c.1.7Trillion.
Jaiz Bank led the gainers chart advancing by 9.8% to close at ₦0.56 from ₦0.51 while Mansard was the biggest loser declining by 9.7% to close at ₦1.86 from ₦2.06.
Going into Monday’s trading session, we envisage that positive sentiment will be sustained as investors continue to buy into the dips.