At the close of the market today, the Equity Market ended trading session with an aggregate of 26,948.43 to capture a marginal loss of 0.01% (compared to 26,950.76 and 0.84% loss recorded yesterday).
Diagnosis: Today’s ASI 0.01% loss was majorly as a result of relatively higher losses and pull-down effects by short positions taken in heavy weight stocks, especially in the Industrial and Consumer Goods Stocks. DANGCEM, UACN, and CADBURY recorded losses of 0.02%, 0.05% and 0.05%.
Further analysis shows that equity investors executed a relatively higher number of profitable long positions in Consumer Goods and Financial Services stocks.
The market breadth (No of Gainers/No of Losers) improved significantly compared to yesterday (0.696x vs. 0.359x). However, bearish sentiments activities dominated their bargain sentiments counterparts as 16 Gainers were recorded against 23 Losers on the trading chart.
The top 5 Gainers were NB (+3.92), PZ (+2.71), ASHAKACEM (+2.30), GUINNESS (+1.00) and GUARANTY (+0.49). The top 5 Losers were SEPLAT (-3.51), DANGCEM (-2.85), UACN (-1.11), CADBURY (-1.00) and OKOMUOIL (-1.00).
5 most actively traded stocks were GUARANTY, ZENITH, FBNH, UBA and NB.
In terms of VOLUME, STERLING, TIGERBRANDS, ACCESS and FCMB topped the list of equities on the trading chart.
GUINNESS, INTBREW, 7UP, HONEYWELL and PZ led the Consumer Goods Index to a gain of 1.73%.
DIAMOND BANK, GUARANTY, UBA AND ZENITH led the Banking Index to a gain of 0.33%.
AIICO and CONTINSURE led the Insurance Index to a gain of 0.17%.
OANDO and SEPLAT led the Oil and Gas Index to a gain of 0.09%.
DANGCEM and BERGER PAINTS led the Industrial Index to a loss of 0.89%.