Positive run persists as stocks start week bullish
Nigerian Police Force Microfinance Bank’s shares pick up
Domestic equities commenced the week on a promising note, adding 302bps to the All Share Index [ASI] yesterday following a major rally in mid and large cap stocks amidst positive investor- sentiments and desire to benefit from low equity prices.
Consequently, all sectoral indices ended the day with gains led by banking (five per cent), consumer (3.58 per cent) and industrial goods (2.10 per cent).
Hence, the ASI closed the day at 29,684.84, with a year-to-date return of -14.35%.
The equities market closed yesterday on a positive note, as Nigerian Stock Exchange [NSE] ASI appreciated by 3.02 per cent to close at 29,684.84basis points, compared with the 2.10 per cent appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 14.35 per cent.
Market breadth also closed positive as PZ led 48 gainers against nine losers topped by Caverton at the end of yesterday’s session- an improved performance when compared with previous outlook.
Market turnover equally closed positive as volume declined by 11.84 per cent against 11.84 per cent decline recorded in the previous session.
UBA, Zenith Bank and Multiverse were the most active to boost market turnover. Guinness and Zenith Bank topped market value list.
Volume shockers included Nigerian Police Microfinance Bank which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.
The major drivers in yesterday’s positive performance also included GTBank (5.48 per cent, ₦22.92), Dangote Cement (1.52 per cent, ₦172.47), Zenith Bank (4.90 per cent, ₦15.20), Nestle (1.42 per cent, ₦840), Nigerian Breweries (five per cent, ₦121.49), FBNH (4.96 per cent, ₦6.14), Oando (8.93 per cent, ₦11.10) and Forte oil (0.84 per cent, ₦252).