14/9/2016/Cordros Research
- Activities resumed (after a 2-day public holiday) on the domestic bourse on a positive note, with the benchmark All Share Index rising by 0.23% to close at 27,642.13 points.
- Today’s gain swung the Month-to-Date (+0.16%) return into the positive and trimmed the Year-to-Date loss to 3.49%.
- The Industrial Goods (+0.48%), Consumer Goods (+0.31%) and Oil & Gas (+0.01%) indices all appreciated, following gains in DANGCEM (+0.87%), WAPCO (+0.05%), UNILEVER (+4.99%), FLOURMILL (+0.47%), CONOIL (+10.17%) and OANDO (+2.00%) respectively. On the other hand, price declines in UBA (-5.10%), ZENITHBANK (-0.07%), FBNH (-0.33%), AIICO (-4.48%), NEM (-1.22%) and CONTINSURE (-1.00%) weighed on the Banking (-0.65%) and Insurance (-0.37%) indices respectively.
- Market breadth was negative, with 15 gainers versus 19 losers. Total volume traded fell by 33.19% to 182.30 million shares, valued at N1.79 billion, and traded in 2,776 deals.
- With four successive sessions of upbeat performance – unsupported by a significant positive catalyst – we expect profit-taking to ensue in tomorrow’s session.
