Nigerian equities market starts the week bullish with 0.79% gain

• The Nigerian equities market started the week on a bullish note, as the NGX All-Share Index (ASI) advanced 0.79% , to close 141,659.00 points. Consequently, the year-to-date return improved to 37.63% from 36.55% recorded in the previous week. Market capitalisation also appreciated by N704.38bn (+0.79% ), settling at N89.63trn.
• The market rebound was driven by gains in BUAFOODS (+6.73% ), GTCO (+1.29% ), and UNILEVER (+8.41% ), which offset profit-taking in FIRSTHOLDCO (-2.53%), UACN (-8.01%), HONYFLOUR (-9.13%).
• Analysis of today’s market activities showed that trade turnover settled higher relative to the previous session, with the volume of transactions up by 27.69%, while trade values increased by 48.96% to close at N24.08bn worth of deals.
• Market breadth closed positive at 1.10x, reflecting more advancers than decliners. ETRANZACT (+9.70%) led the thirty-one (31) gainers, while MCNICHOLS (-9.90%) topped the twenty (20) laggards, with the rest of the stocks closing flat.

NASD Summary

• The NASD OTC Securities Index (NSI) and market capitalisation rose by 0.02%, closing at 3,574.42 points and N2.14trn, respectively. 
• The market closed mixed today, with volume declining by 84.84%. while value  by 72.93%.
• SDFOODCPT (+8.92%) topped the market leaders, while  SDFCWAMCO was the only laggard.