Equities Market Sustains Upbeat Performance

The equities market sustained yesterday’s upbeat performance in today’s session as the benchmark index grew 0.5% to close at 28,286.43 points, while YTD gain improved to 5.3%. Today’s performance was buoyed by sustained buy interest in SEPLAT (+4.6%), NIGERIAN BREWERIES (+1.4%) and GUARANTY (+1.5%) as well as renewed interest in DANGCEM (+0.6%). Accordingly, investors gained N45.9bn as market capitalization rose to N9.8tn. Similarly, market activity improved as volume and value traded grew 50.2% and 68.7% to 311.3m units and N3.5bn respectively.
 
Industrial Goods Sector emerges Lone Loser
Performance across sectors was largely positive as all indices advanced save for the Industrial Goods index which slid 0.7%. The Banking index appreciated the most, climbing 1.5% on the back of gains in GUARANTY (+1.5%), ZENITH (+1.7%) and ETI (+1.9%) while gains in MANSARD (+4.9%) and NEM (+1.0%) drove the Insurance index 0.7% northwards. Likewise, the Consumer Goods and Oil & Gas indices appreciated 0.7% and 0.3% respectively due to gains in NIGERIAN BREWERIES (+1.4%) and SEPLAT (+4.6%).
 
Investor Sentiment Strengthens
Investor sentiment improved as reflected by market breadth (advancers/decliners ratio) which settled at 1.5x (from 1.2x yesterday) consequent on 27 advancers against 18 decliners. At the apex of the gainers’ chart were VITAFOAM (+6.3%), CCNN (+5.0%) and INTBREW (+4.9%) while JOHNHOLT (-6.3%), OANDO (-5.0%) and MAYBAKER (-5.0%) led the losers’ chart. As improvements in the FX market as well as strengthening macroeconomic fundamentals remain a major driver of activities in the market, we expect the positive performance to be sustained in the trading session ahead.
 
NASD OTC Exchange Market Activities
In the NASD OTC exchange, eight counters traded today with total volume and value traded closing at 112,580 units and N844,793 respectively. CSCS accounted for 97.8% of total volume traded.

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