The Nigerian equities market closed flat Thursday as the benchmark index lost a marginal 0.1bp to close at 25,514.03 points while YTD loss performance remained at 5.1%.
Today’s flattish close was as a result of sell pressure in SEPLAT (-9.7%) and profit taking in ACCESS (-3.6%) and ZENITH (-1.5%), which offset the gains in WAPCO (+8.5%) and GUARANTY (+1.1%).
Accordingly, investors lost N23.4m, bringing market capitalization to N8.8tn. Market activity also moderated as volume and value traded fell 42.1% and 44.0% to settle at 115.1m units and N1.4bn respectively.
However, performance across sectors was mixed as 3 indices gained while 2 declined. The Oil & Gas index emerged the worst performer, down 3.6% as investors sold down heavily on SEPLAT (-9.7%), while the Banking index lost 4bps – dragged by losses in ZENITH (-1.5%) and ACCESS (-3.6%).
On the Gainers side, the Industrial Goods index surged 3.4% as investors further took interest in WAPCO (+8.5%) following better than expected earnings result submitted by the cement manufacturer yesterday. The Consumer Goods index came in higher by 0.2% due to NESTLE (+1.2%) and 7UP (+3.0%) while the Insurance index gained 8bps as a result of AIICO (+1.8%).
Sentiment however strengthened as reflected in the market breadth which improved from 0.7x in previous trading session to 1.4x – 20 stocks appreciated against 14 decliners.
Sentiment however strengthened as reflected in the market breadth which improved from 0.7x in previous trading session to 1.4x – 20 stocks appreciated against 14 decliners.
The best performing stocks were WAPCO (+8.5%), LEARNAFRCA (+4.6%) and LIVESTOCK (+4.5%) whileSEPLAT (-9.7%), GUINNESS (-4.2%) and AFRIPRUD (-3.8%) were the worst performers. Despite the flattish performance of the broader index, the market breadth suggests sentiment is positive following two consecutive days of losses. We expect the benchmark index to close positive in the final trading session for the week.
In the NASD OTC exchange, the total volume and value of transactions stood at 500, 206 units and N3.0m respectively as only two counters were traded today. CSCS Plc declined 7.7% to settle at N6.00 while WAMCOclosed flat at N140.00.
In the NASD OTC exchange, the total volume and value of transactions stood at 500, 206 units and N3.0m respectively as only two counters were traded today. CSCS Plc declined 7.7% to settle at N6.00 while WAMCOclosed flat at N140.00.
