The Nigerian equities market closed positively by 0.73% as NGX-ASI closed at 43,026.23 pts. 

In today’s trade, market breadth index was broadly negative with 27 losers against 18 gainers. 

ACADEMY(+10.00%)  led the gainers, while ARDOVA (-10.00%) was the top loser today. 

CHAMS (-9.09%) was the most actively traded stock with about 30million units of shares worth about N6million.

Sector Performances

• NGX Industrial Index: Rose by 2.97%, due to the buy-interest recorded in BUACEMENT (+7.31%), CUTIX (+0.38%) and WAPCO (+0.21%).

• NGX Banking Index: Advanced by 0.39%, as a result of the gains printed in WEMABANK (+9.72%), JAIZBANK (+3.57%), ETI (+2.30%), STERLNBANK (+1.32%) and ZENITHBANK (+0.60%).

• NGX Consumer Goods Index:  Fell by 0.92%, due to the sell-off recorded in NNFM (-10.00%), VITAFOAM (-10.00%), NB (-4.00%) and DANGSUGAR (-2.59%).

• NGX Oil and Gas Index: Declined by 0.50%, on the back of the loss seen in ARDOVA (-10.00%). 

Performance of key stocks

The equities market closed in positive territory today due to the gains recorded in the Industrial and Banking sectors. Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.

Please click here to download today’s price list.