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Equities Rebounds, Close Positive on First Trading Day in December

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ARM Securities Limited; Mrs. Folashade Adeloye, Group Company Secretary, ARM Holding Company Limited; Mr. Sadiq Mohammed, Director, ARM Investment Managers Limited/Deputy GCEO, Asset & Resource Management Holding Company Limited; Haruna Jalo-Waziri, ED, Capital Markets Division, NSE Ms. Jumoke Ogundare, Director, ARM Investment Managers Limited/GCEO, Asset & Resource Management Holding Company Limited; Mr. Fela Popoola, MD, ARM Investment Managers Limited; Ms. Folashade Olasiyan , Fund Manager, ARM Money Market Fund and Tony Ibeziako, Head, Domestic Primary Market, NSE at the Listing of ARM Money Market Fund on Monday.at the Listing of ARM Money Market Fund on Monday.
ARM Securities Limited; Mrs. Folashade Adeloye, Group Company Secretary, ARM Holding Company Limited; Mr. Sadiq Mohammed, Director, ARM Investment Managers Limited/Deputy GCEO, Asset & Resource Management Holding Company Limited; Haruna Jalo-Waziri, ED, Capital Markets Division, NSE Ms. Jumoke Ogundare, Director, ARM Investment Managers Limited/GCEO, Asset & Resource Management Holding Company Limited; Mr. Fela Popoola, MD, ARM Investment Managers Limited; Ms. Folashade Olasiyan , Fund Manager, ARM Money Market Fund and Tony Ibeziako, Head, Domestic Primary Market, NSE at the Listing of ARM Money Market Fund on Monday.at the Listing of ARM Money Market Fund on Monday.

1/12/2016/Cordros Research

  • Equities index closed positive on the first trading day in December, after a dismal performance in November. The All Share Index advanced by a marginal 0.09% to close at 25,265.08 points.
  • Today’s positive close trimmed the Year-to-Date loss to 12.18%.
  • Three of the five sector indices closed on a negative note. The Consumer Goods index posted a 0.53% loss, followed by Insurance and Industrial Goods indices which fell by 0.06% and 0.04% respectively. The Oil & Gas index (+2.96%) once again advanced strongly, followed by the Banking index which rallied by a modest 0.26%. Gains by MOBIL (10.24%), FO (10.22%) and OANDO (4.99%) lifted the oil & gas index while gains by WEMABANK (1.85%), FIDELITYBK (1.27%) and GUARANTY (0.66%) stirred the banking index. Conversely, losses recorded by CCNN (4.91%), WAPIC (3.85%) and NB (1.37%) respectively impacted industrials, insurance and consumer goods indices negatively.
  • Market breadth was almost even, with 14 gainers (20 previously) versus 15 losers (20 previously). Total volume traded increased by 87% to 773.9 million shares, valued at N1.9 billion, and traded in 2,334 deals.
  • The marginal gains of yesterday and today, despite the huge selloff experienced last month, do not point to sustainable recovery. We look for a decline in tomorrow’s session.

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