December 3, 2015/Cordros Research

Nigerian equities rallied in today’s session, halting a five-day losing streak to gain 0.99%.

The All Share Index closed at 27,559.18, while market capitalization increased by N93.28 billion to N9.48 trillion, prompting a Month-to-Date gain of 0.63% and paring Year-to-Date losses to 20.48%. 

All sector indices gained today. The Banking (+1.20%) and Consumer Goods (+1.46%) sectors led the gains following price appreciations in ACCESS (+3.95%), ZENITHBANK (+1.58%), PZ (+4.00%), and NB (+3.45%) respectively. The Insurance (+0.63%) sector was lifted by gains in NEM (+4.62%) and MANSARD (+1.89%). Also, gains in DANGCEM (+1.27%) and OANDO (+2.63%) led the Industrial (+0.32%) and Oil & Gas (+0.28%) sectors to a positive close.

Market breadth was positive with 22 gainers and 18 losers. Total volume traded decreased by 35.03% to stand at 249.09 million shares valued at N3.08 billion in 2,524 total deals.

We expect gains to continue in tomorrow’s session.