The Nigerian equities market Tuesday closed the third trading session of the week in green, gaining 0.15per cent. However, market breadth index was negative with 13 gainers against 18 losers.
Today’s performance was driven by the gains in CAP +10.00per cent, Sterling Bank +9.77per cent, Eterna +9.09per cent, Chi Plc +7.41per cent, LASACO +6.45per cent and Nestle +4.72per cent which offset the losses in REGALINS -7.69per cent, AFRIPRUD -7.52per cent, PRESTIGE -7.41per cent, DANGFLOUR -5.00per cent and Guinness -4.69per cent.
Sector performances were somewhat positive today with Consumer Goods +1.60per cent emerging the best performer, followed by Banking +0.04. However, Industrial -0.35per cent closed negative while Oil & Gas closed flat.
In terms of activity levels, while total volume increased by 72percent, total value declined by 23per cent compared to yesterday, as investors exchanged 377million units of shares worth N2.26billion. Diamond Bank +2.89per cent was the most actively traded stock with about 113million units of shares worth N283million.
Despite the recent recovery in the equities market, industry watchers believe that prices are still at decent levels for investors with medium to long term horizon. Furthermore, with the conclusion of the 2019 General elections, uncertainties associated with political risk to dwindle. This may improve investor sentiment towards the Nigerian equities market.
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