The trading week commenced on a negative note as the local bourse, the All-Share Index, retraced its steps, closing at 101,995.53 points, a decline of 0.09%, attributed to weakening closing at 67,133.19 points. This led to a decrease in the market capitalization of listed equities by 0.09% to N55.81 trillion, reflecting losses of N50.64 billion. Despite this, the Naira saw a 4.96% strengthening against the Dollar..…..CONTINUE READING>>>>>>
Market sentiment was mixed, with modest gains in some sectors, notably Banking and Consumer goods, while others experienced declines. Notable gainers included THOMASWY, COURTVILLE, DEAPCAP, AFRIPRUD, and UNILEVER, while decliners included NESTLE, ETERNA, FIDSON, CWG, and SUNUASSUR.
Overall, there were more gainers (22) than decliners (9) on the exchange, with the Banking and Consumer goods indexes leading the gainers, advancing by 0.94% and 11.69% respectively. However, the Insurance sector faced a decline of 1.80%.
Trading activity on the NGX saw an uptick, with total deals, volume, and traded value increasing. However, some sectors like Oil & Gas and Industrial Goods experienced declines due to selling pressure observed in certain stocks.
At the close of the session, FBNH emerged as the most traded security in terms of both volume and value. Despite the negative start, the market remained dynamic, with varied trends observed across different sectors.
Disclaimer: This report by Cowry Asset Management Limited (COWRY) serves as a guideline for investors but does not constitute an offer or solicitation to enter into any trading transaction. Care has been taken in preparing this report, but investors should make their own investment decisions.…..CONTINUE READING>>>>>>
