At the close of the market today, the Equity Market ended trading session with an aggregate of 26,728.64 to capture a gain of 0.72% (compared to 26,537.36 and 1.54% loss recorded last week Friday).
Diagnosis: Today’s All Share Index’s gain of 0.72% is premised on positive market sentiments, as equity investors executed profitable long positions in the Consumer Goods, Industrial and Banking stocks, with majority of those positions seen in Banking stocks. Furthermore, a gain in the Largest High-cap stock on the ASI, DANGCEM, lent considerable support to the All Share Index’s gain.
Further analysis shows that a small number of profitable long positions was executed in the Oil & Gas, ICT, Industrial and Services stocks.
The market breadth (No of Gainers/No of Losers) showed significant improvement compared to last week Friday (1.06x vs. 0.69x) as bargain hunting activities marginally dominated pessimistic activities: 18 Gainers were recorded against 17 Losers on the trading chart.
The top 5 Gainers were DANGCEM (+2.04), GUARANTY (+0.95), ETI (+0.70), UBN (+0.28) and WAPCO (+0.25). The top 5 Losers were NESTLE (-10.00), MOBIL (-5.84), FLOURMILL (-1.05), UACN (-0.25) and CHAMPION (-0.17).
5 most actively traded stocks were FBNH, ZENITH, GUARANTY, OANDO and UBA.
In terms of VOLUME, UBA, GUARANTY, FBNH, ACCESS and ZENITH topped the list of equities on the trading chart.
ACCESS, DIAMOND, ETI, GUARANTY and UNION Bank led the Banking index to a gain of 2.36%.
DANGCEM, WAPCO and ASHAKACEM led the Industrial index to a gain of 0.77%.
MANSARD, NEM and CUSTODYINS led the Insurance index to a loss of 0.51%.
CHAMPION, FLOURMILL and NESTLE led the Consumer Goods index to a loss of 0.45%.
MOBIL led the Oil & Gas index to a loss of 0.05%.