The Nigerian equities market closed the final trading session of the week in green, gaining 0.21%. However, WTD, the market closed down by 4.59%.

Market breadth index was positive with 17 gainers against 15 losers. 

FIRSTALUM (+10.00%) led the gainers’ chart while ABCTRANS (-9.43%) was the top loser today.  

STERLNBANK (+1.96%) was the most actively traded stock with about 59million units of shares worth N149million.  

Sector Performance

·         NSE Industrial Index: Gained 1.19%, majorly driven by CCNN (+4.94%).  

·         NSE Banking Index: Closed up by 0.33%, following the gains in FIDELITY (+5.85%), FCMB (+5.71%), UBN (+5.26%), JAIZBANK (+5.17%) and ACCESS (+1.79%). 

·         NSE Consumer Goods Index: Advanced by 0.17%, on the back of the buy interest in DANGFLOUR (+6.88%), CADBURY (+5.00%) and DANGSUGAR (+1.09%).  

·         NSE Oil & Gas Index: Closed flat.

Market Insight 

The equities market closed up today following the gains across all sectors. Despite the recent sell-off in the equities market, we believe prices at current level presents decent entry opportunities for investors with medium to long term horizon.