Although the market opened at a slow pace, yet the All Share Index rose to 31,307 pts (+3.69%). Due to the recovery of ₦489.9bn, the losses on the NSEASI moderated to -0.39% year to date.
Heavyweight stocks dominated trading activities as Guaranty records a transaction value of ₦2.1bn. The cement giant came third with Zenith Bank, MTN and Nestle following the train.
Market breadth was positive as 30 stocks gained while 6 stocks closed lower giving a market breadth ratio of +5x, indicating positive investor sentiments.
ETI led the bulls with a 10% uptick on the ticker, ahead of 29 Plcs probably due to the proposed 5-year $50million bond offering. Eternal Oil touched a new 52 week low of ₦3.65, lagging behind 5 other losers in today’s session.
Investors’ interest in banking stocks (6.76% vs 1.02% yesterday) has continued to improve as all Tier 1 Banks gained today. Industrial (+3.42%), Oil & Gas (3.97%) and Insurance (+0.04%) stocks closed bullish at the end of the session.
|All Share Index||30,194.71||